Today we will analyze the stock CHONG HONG CONSTRU TWD10 (5534.TW) for internet stock trading in the TW stock market,
Stock Technical indicators to notice in CHONG HONG CONSTRU TWD10 (5534.TW)
1- Last bearish trend was from 66.00 $ (4/16/2012) to 60.00 $ (4/30/2012) a 6.00 $ move 2- The current bullish trend started from 60.00 $ at 4/30/2012 and is currently trading at 62.20 $.
3- 5534.TW current support level is at 61.42 which is the 23.60 % fibonacci retracement of the last 6.00 $ move.
4- 5534.TW current resistance level is at 62.29 which is the 38.20 % fibonacci retracement of the last 6.00 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
CHONG HONG CONSTRU TWD10 (5534.TW) Short term stock chart patterns for internet stock trading :

6- The Stock traded in a bearish stock channel identifed by support at 60.000 and 63.100,resistance between 66.000 and 69.300 which was broken up at 62.200.
CHONG HONG CONSTRU TWD10 (5534.TW) Mid term stock chart patterns for internet stock trading :

7- The Stock was supported by a support line, identified by two points: 48.550 and 44.550 that was broken down at 65.400 transforming into a resistance line.
CHONG HONG CONSTRU TWD10 (5534.TW) Long term stock chart patterns for internet stock trading :

8- The Stock was resisted by a resistance line, identified by two points: 69.300 and 72.000, and is currently resisting at 68.545.

Stock Trading Conclusion:
CHONG HONG CONSTRU TWD10 (5534.TW) was trading in a bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show no favorited direction,
recommend hold or waiting for entry .

Stock Resistance Levels : 62.29, 63.00, 63.12, 63.71, 66.00, 67.63, 68.55, 69.71, 83.66.
Stock Support levels : 62.15, 61.68, 61.42, 61.36, 61.10, 60.84, 60.00,.