Today we will analyze the stock NANYA TECHNOLOGY C TWD10 (2408.TW) for internet stock trading in the TW stock market,
Stock Technical indicators to notice in NANYA TECHNOLOGY C TWD10 (2408.TW)
1- Last bearish trend was from 2.51 $ (4/27/2012) to 2.16 $ (5/3/2012) a 0.35 $ move 2- The current bullish trend started from 2.16 $ at 5/3/2012 and is currently trading at 2.47 $.
3- 2408.TW current support level is at 2.38 which is the 61.80 % fibonacci retracement of the last 0.35 $ move.
4- 2408.TW current resistance level is at 2.51 which is the 100.00 % fibonacci retracement of the last 0.35 $ 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.
NANYA TECHNOLOGY C TWD10 (2408.TW) Short term stock chart patterns for internet stock trading :

6- The Stock was resisted by a resistance line, identified by two points: 2.510 and 2.560 that was broken up at 2.470 transforming into a supporting line.
NANYA TECHNOLOGY C TWD10 (2408.TW) Mid term stock chart patterns for internet stock trading :

7- The Stock was resisted by a resistance line, identified by two points: 3.200 and 3.300, and is currently resisting at 3.075.
NANYA TECHNOLOGY C TWD10 (2408.TW) Long term stock chart patterns for internet stock trading :

8- The Stock was resisted by a resistance line, identified by two points: 3.200 and 3.300, and is currently resisting at 3.075.

Stock Trading Conclusion:
NANYA TECHNOLOGY C TWD10 (2408.TW) was trading in a strong bearish 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 : 2.51, 2.61, 2.73, 3.08,.
Stock Support levels : 2.40, 2.39, 2.38, 2.35, 2.34, 2.32, 2.29, 2.28, 2.24, 2.16,.