Today we will analyze the stock WUHAN JIANMIN PHAR ‘A’CNY1 (600976.SS) for internet stock trading in the SS stock market,
Stock Technical indicators to notice in WUHAN JIANMIN PHAR ‘A’CNY1 (600976.SS)
1- Last bearish trend was from 14.53 $ (1/10/2012) to 13.60 $ (1/16/2012) a 0.93 $ move 2- The current bullish trend started from 13.60 $ at 1/16/2012 and is currently trading at 14.41 $.
3- 600976.SS current support level is at 14.17 which is the 61.80 % fibonacci retracement of the last 0.93 $ move.
4- 600976.SS current resistance level is at 14.53 which is the 100.00 % fibonacci retracement of the last 0.93 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
WUHAN JIANMIN PHAR ‘A’CNY1 (600976.SS) Short term stock chart patterns for internet stock trading :

6- The Stock formed a 2.860 $ height triangle which was broken up at 14.100, target of the pattern is 16.960.
WUHAN JIANMIN PHAR ‘A’CNY1 (600976.SS) Mid term stock chart patterns for internet stock trading :

7- The Stock was resisted by a resistance line, identified by two points: 14.530 and 16.360 that was broken up at 14.100 transforming into a supporting line.
WUHAN JIANMIN PHAR ‘A’CNY1 (600976.SS) Long term stock chart patterns for internet stock trading :

8- The Stock formed Double Top Pattern at 16.360 .
9- The Stock formed a 2.610 $ height triangle which was broken down at 14.270 in higher than usual volume, target of the pattern is 11.660.

Stock Trading Conclusion:
WUHAN JIANMIN PHAR ‘A’CNY1 (600976.SS) was trading in a bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .

Stock Resistance Levels : 14.53, 14.78, 14.88, 15.10, 16.42, 16.96.
Stock Support levels : 14.22, 14.17, 14.10, 14.07, 14.01, 13.96, 13.91, 13.82, 13.60, 12.53,.