Yangzijiang has indeed broke above the 1.10 critical resistance level today on TOP 20 volume. Potential reversal and breakout call was alerted to clients on Monday BEFORE THE IMPENDING BREAKOUT (SEE BELOW). Now at 1.13.
Sent: Monday, March 31, 2014 9:50 AM
Subject: ************* Potential Reversal: Yangzijiang. Share price 1.09. (Can it clear the 1.10 as confirmation ?)
Subject: ************* Potential Reversal: Yangzijiang. Share price 1.09. (Can it clear the 1.10 as confirmation ?)
Yangzijiang has just started moving up over the past few days on stronger than average volume, CURRENTLY AT TOP 30 volume. Monitor for a potential breakout above the 1.10 psychological resistance level. A breakout above this level can also signal a reversal as it has broken up above the channel resistance downwards sloping line which has sustained since Jan this year. Pulling away upwards above the 20 DAY MA line can also signal some short term momentum. A break above 1.10 with volume above 12m shares and the clearing of 1.105 and 1.11 can pave the way to 1.18 then 1.24.
Stop loss at 1.08 on Breakout.
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