Yingli has been trading below the 0.45 resistance level for about 1 and a half month and finally we have seen it broke this level today on high volume. Currently at TOP 10 Volume. Has tested the 0.45 level for about 4 times but have failed to break above each time. As long as 0.45 remains as the new support level, possible to head to test 0.500 next psychological resistance level. A break above 0.500 can see it go to 0.53 to 0.55 level which was the high set in April 2013.
Stop loss at 0.435.
NEWS – 22 JULY 2013
YINGLI: Announces new strategic plan. Highlight it has comparative advantage in Chongqing (population of ~30m people) which it will exploit mkt depth and strengthen foothold. Besides core CBD, co will expand into district CBDs and suburban centres in Chongqing, including Liangjiang New Area. Plans to expand into 2nd/3rd tier cities in China, with focus on 1-2 initial cities which co has good relationships with the local govt and partners. Also plans to start and build its Property Capital Mgmt business as part of strategy to recycle capital such as through REITs. Transforming into a green co, with projects meeting/exceeding China’s natl and/or internationally recognised green bldg standards. Plans to attract strategic investors through new shd issuance, as well as issue bonds through a MTN programme.
UOBKH- 27 MAY 2013
UOBKH – 16 MAY 2013
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