Today we will analyze the stock CHINA TEXTILE MACH ‘B’CNY1 (900906.SS) for internet stock trading in the SS stock market,
Stock Technical indicators to notice in CHINA TEXTILE MACH ‘B’CNY1 (900906.SS)
1- Last bullish trend was from 0.46 $ (3/30/2012) to 0.50 $ (4/27/2012) a 0.04 $ move 2- The current bearish trend started from 0.50 $ at 4/27/2012 and is currently trading at 0.46 $.
3- 900906.SS current support level is at 0.45 which is the 127.20 % fibonacci retracement of the last 0.04 $ move.
4- 900906.SS current resistance level is at 0.46 which is the 100.00 % fibonacci retracement of the last 0.04 $ move.
5- According to ADX Indicator, the trend is currently strong bearish, which is getting stronger.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
CHINA TEXTILE MACH ‘B’CNY1 (900906.SS) Short term stock chart patterns for internet stock trading :

6- The Stock was resisted by a resistance line, identified by two points: 0.500 and 0.510, and is currently resisting at 0.499.
CHINA TEXTILE MACH ‘B’CNY1 (900906.SS) Mid term stock chart patterns for internet stock trading :

7- The Stock formed a 0.080 $ height triangle which was broken down at 0.450 in higher than usual volume, target of the pattern is 0.370.
CHINA TEXTILE MACH ‘B’CNY1 (900906.SS) Long term stock chart patterns for internet stock trading :

8- The Stock traded in a bearish stock channel identifed by support at 0.430 and 0.570,resistance between 0.510 and 0.650, the stock channel is currently supported from below by 0.325 and resisted from above by 0.473.

Stock Trading Conclusion:
CHINA TEXTILE MACH ‘B’CNY1 (900906.SS) was trading in a strong bearish wave, which is becoming stronger .
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 : 0.469, 0.471, 0.475, 0.480, 0.485, 0.491, 0.499, 0.500, 0.510,.
Stock Support levels : 0.449, 0.435,.