Friday, September 6, 2013

******** Trading BUY: Yangzijiang. Share price 0.975. ( Broken out of consolidation)

Yangzijiang has surprising cleared the 0.97 immediate resistance level today with a high set at 0.99 as of now. This 0.97 level has been resisting upward movement since Jan this year.  Likely to see some upward momentum going forward in the next few days if it manages to stay above 0.97. A breakout above Critical 1.00 psychological resistance level can see it rise quickly to 1.05 or 1.09 level.  That was the breakout attempted in Jan 2013 before it dipped again. Possible to average up on this break out of 1.00 with CFD Buy stop orders at 1.005 to 1.015 to catch this breakout.
Stop loss at 0.955 nevetheless.

No comments:

Post a Comment