Monday, February 1, 2016

Yangzijiang: BUY UPS seen right after call........ now at 0.995....

Do you think the 1.00 KEY Psychological level can clear out? We would like to take some profit first  J

Sent: Monday, February 01, 2016 11:59 AM
Subject: ************** Yangzijiang: Some short term upside possible on the break above 0.95 resistance, but note next resistance... price 0.96
Yangzijiang has traded below the 0.95 resistance for more than 2 weeks, and today we have seen an above average volume on the breakout above 0.95 resistance. This can see some short term momentum on this price action with indicators also starting to reverse upwards. However, note that the next KEY resistance is the 1.00 level which was originally the support it broke down from last month with longer term trend still weak. So good to take profit on any long positions as it trades towards the 1.00 where we would expect some selling again, probably back down. We may even lock in some CFD SELL scaled in as it approaches the 1.00…. for now, a short term positive with 0.95 as the support….

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