Today we will analyze the stock CHINA SINOMA INTL ‘A’CNY1 (600970.SS) for internet stock trading in the SS stock market,
Stock Technical indicators to notice in CHINA SINOMA INTL ‘A’CNY1 (600970.SS)
1- Last bullish trend was from 19.19 $ (4/18/2012) to 20.26 $ (4/25/2012) a 1.07 $ move 2- The current bearish trend started from 20.26 $ at 4/25/2012 and is currently trading at 19.23 $.
3- 600970.SS current support level is at 19.19 which is the 100.00 % fibonacci retracement of the last 1.07 $ move.
4- 600970.SS current resistance level is at 19.60 which is the 61.80 % fibonacci retracement of the last 1.07 $ move.
5- According to ADX Indicator, the trend is currently bearish, which is getting stronger.
CHINA SINOMA INTL ‘A’CNY1 (600970.SS) Short term stock chart patterns for internet stock trading :

6- The Stock formed a 2.520 $ height triangle which was broken down at 19.170 in higher than usual volume, target of the pattern is 16.650.
CHINA SINOMA INTL ‘A’CNY1 (600970.SS) Mid term stock chart patterns for internet stock trading :

7- The Stock was supported by a support line, identified by two points: 18.410 and 17.960 that was broken down at 19.230 transforming into a resistance line.
CHINA SINOMA INTL ‘A’CNY1 (600970.SS) Long term stock chart patterns for internet stock trading :

8- The Stock formed a 7.180 $ height triangle which was broken up at 19.990 in higher than usual volume, target of the pattern is 27.170 which was broken down at 19.720, target of the pattern is 12.540.

Stock Trading Conclusion:
CHINA SINOMA INTL ‘A’CNY1 (600970.SS) was trading in a bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading .

Stock Resistance Levels : 19.36, 19.47, 19.60, 19.62, 19.73, 19.74, 19.85, 19.87, 19.90, 20.01, 20.26, 20.26, 27.17.
Stock Support levels : 19.19, 18.90, 18.81, 18.53, 16.65,.