Tuesday, April 7, 2015

Breakout Spotted: Yangzijiang: Cleared the psychological resistance at 1.30, price 1.32

Issued a potential breakout call on Yangzijiang last Thursday, SEEN TODAY, Can it trade higher from here ?

Sent: Thursday, April 02, 2015 9:39 AM
Subject: ********************* Potential Breakout: Yangzijiang: Back to 1.30 psychological resistance, price 1.285
Yangzijiang has been slowly inching upwards after breaking above the 1.24 resistance 3 weeks back. Has since consolidated from 1.26 to 1.30 and today we have seem it near the 1.30 psychological resistance level again. Breaking above 1.30 with clearing of sellers at 1.30 – 1.31 can be a key positive to take it upwards to 1.40 next as it opens up a new consolidation phase. Have been supported above the upwards sloping channel support line with all 3 moving average still sloping upwards. Watchlist for a potential breakout where one can accumulate more to ride. Stop loss at 1.285 on a breakout.

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