Thursday, May 21, 2015

Yangzijiang: rising back to 1.50 resistance as mentioned yesterday

Are we seeing a breakout above 1.50 soon? It’s in my watch list !  ;)

Sent: Wednesday, May 20, 2015 10:28 AM
Subject: ******************* Yangzijiang: Coming back strongly after ex Div, price 1.455
Following its ex div 2 days back, we have seen Yangzijiang traded back to it 1.40 – 1.41 support before rebounding back strongly. Temp resistance at 1.45 has been cleared today and this can lead to its recovery back to attempt a breakout above the 1.50 psychological resistance level. Longer term MA line still pointing upwards firmly with uptrend intact.  Range would be from 1.44 to 1.50 now and can consider accumulating on dips for a potential rebound and breakout as long as 1.40 holds as the critical support that we have seen for the past month.

No comments:

Post a Comment