Today we will analyze the stock TANG STEEL CORP. (000709.SZ) for internet stock trading in the SZ stock market,
Stock Technical indicators to notice in TANG STEEL CORP. (000709.SZ)
1- Last bearish trend was from 3.10 $ (4/18/2012) to 2.99 $ (4/24/2012) a 0.11 $ move 2- The current bullish trend started from 2.99 $ at 4/24/2012 and is currently trading at 3.13 $.
3- 000709.SZ current support level is at 3.13 which is the 127.20 % fibonacci retracement of the last 0.11 $ move.
4- 000709.SZ current resistance level is at 3.17 which is the 161.80 % fibonacci retracement of the last 0.11 $ move.
5- According to ADX Indicator, the trend is currently bullish, 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.
TANG STEEL CORP. (000709.SZ) Short term stock chart patterns for internet stock trading :

6- The Stock formed a 0.440 $ height triangle which was broken up at 3.100 in higher than usual volume, target of the pattern is 3.540.
TANG STEEL CORP. (000709.SZ) Mid term stock chart patterns for internet stock trading :

7- The Stock formed a 1.330 $ height triangle which was broken up at 2.990 in higher than usual volume, target of the pattern is 4.320.
TANG STEEL CORP. (000709.SZ) Long term stock chart patterns for internet stock trading :

8- The Stock traded in a bearish stock channel identifed by support at 2.780 and 3.590,resistance between 3.320 and 4.110 which was broken up at 2.990 in higher than usual volume.

Stock Trading Conclusion:
TANG STEEL CORP. (000709.SZ) was trading in a bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish 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 : 3.17, 3.54, 4.32.
Stock Support levels : 3.13, 3.10, 3.10, 3.08, 3.06, 3.06, 3.05, 3.04, 3.03, 3.03, 3.02, 2.99, 2.80,.