Today we will analyze the stock TONGE (000090.SZ) for internet stock trading in the SZ stock market,
Stock Technical indicators to notice in TONGE (000090.SZ)
1- Last bullish trend was from 8.53 $ (4/23/2012) to 9.05 $ (4/25/2012) a 0.52 $ move 2- The current bearish trend started from 9.05 $ at 4/25/2012 and is currently trading at 8.60 $.
3- 000090.SZ current support level is at 8.53 which is the 100.00 % fibonacci retracement of the last 0.52 $ move.
4- 000090.SZ current resistance level is at 8.73 which is the 61.80 % fibonacci retracement of the last 0.52 $ move.
5- According to ADX Indicator, the trend is currently strong bullish,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.
TONGE (000090.SZ) Short term stock chart patterns for internet stock trading :

6- The Stock formed a 2.590 $ height triangle which was broken down at 8.800, target of the pattern is 6.210.
TONGE (000090.SZ) Mid term stock chart patterns for internet stock trading :

7- The Stock formed a 2.590 $ height triangle which was broken down at 8.800, target of the pattern is 6.210.
TONGE (000090.SZ) Long term stock chart patterns for internet stock trading :

8- The Stock was supported by a support line, identified by two points: 7.030 and 6.340, and is currently supporting at 7.298.

Stock Trading Conclusion:
TONGE (000090.SZ) was trading in a strong bullish 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 : 8.71, 8.73, 8.77, 8.79, 8.83, 8.85, 8.88, 8.93, 9.05, 9.28,.
Stock Support levels : 8.53, 8.39, 8.21, 7.30, 6.21,.