Wednesday, January 30, 2013

Watch the Breakout: Yongnam. Share price 0.26.

Has been consolidating from 0.22 to 0.265 since Aug 2011. Tested the 0.265 critical resistance a total of 5 times during this period but had failed to clear above. Top 30 Volume currently seem. Monitor closely.

A convincing break above the 0.265 level can see it rise to 0.29 in the near term. As long as 0.265 remains as the new resistance turned support level, more upside possible. A break above 0.29 can pave the way to 0.300 to 0.315 level.

Stop loss at 0.25 nevertheless

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