Tuesday, August 20, 2013

******* Possible Downside: Ying Li. Share price 0.405. ( CFD SELL trade setup)

Ying Li has been trading above the 0.415 support level since Jan 2013, tested this support level in Mar and June 2013 and managed to bounce off both times previously. Today we have seen it broke down the 0.415 critical support level. As such, more downside can be possible to 0.400 then 0.38.A break below 0.38 can see it go to 0.33 to 0.35 level. A slight descending triangle pattern formations where lower highs were formed over the past 4  months. Note that it has also broken below the 200 day MA support just end of last week after staying above it consistently since June last year, may signal some weakness on the downside.
Buy stop at 0.43 for CFD sell trades

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