Today we will analyze the stock CHINA ELECTRIC MAN TWD10 (1611.TW) for internet stock trading in the TW stock market,
Stock Technical indicators to notice in CHINA ELECTRIC MAN TWD10 (1611.TW)
1- Last bullish trend was from 21.30 $ (4/23/2012) to 22.85 $ (5/2/2012) a 1.55 $ move 2- The current bearish trend started from 22.85 $ at 5/2/2012 and is currently trading at 22.00 $.
3- 1611.TW current support level is at 21.89 which is the 61.80 % fibonacci retracement of the last 1.55 $ move.
4- 1611.TW current resistance level is at 22.08 which is the 50.00 % fibonacci retracement of the last 1.55 $ move.
5- According to ADX Indicator, the trend is currently 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.
6- Bearish Divergance in MACD Indicator .
CHINA ELECTRIC MAN TWD10 (1611.TW) Short term stock chart patterns for internet stock trading :

7- The Stock was resisted by a resistance line, identified by two points: 22.850 and 23.300, and is currently resisting at 22.700.
CHINA ELECTRIC MAN TWD10 (1611.TW) Mid term stock chart patterns for internet stock trading :

8- The Stock traded in a bullish stock channel identifed by support at 21.300 and 19.650,resistance between 23.300 and 21.100 which was broken down at 22.100.
CHINA ELECTRIC MAN TWD10 (1611.TW) Long term stock chart patterns for internet stock trading :

9- The Stock formed Double Top Pattern at 20.500 that failed, and formed a support .

Stock Trading Conclusion:
CHINA ELECTRIC MAN TWD10 (1611.TW) was trading in a 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 : 22.08, 22.20, 22.26, 22.32, 22.42, 22.48, 22.53, 22.54, 22.70, 22.85,.
Stock Support levels : 21.89, 21.30, 20.88, 20.50,.