Follow UP******************* Bullish Setup: Yangzijiang - Reverse head and shoulder pattern spotted, potential breakout above key resistance...... watchlist, price 1.135 (Price 1.15 now)

Can Yangzijiang break above the 1.15 to 1.6 Key resistance levels? Let’s see.

  

Sent: Wednesday, June 18, 2014 9:16 AM
Subject: ******************* Bullish Setup: Yangzijiang - Rebounding back up after recent consolidation. Broke 1.065 immediate resistance....

Entry: 1.075 to 1.09

Target: 1.16, 1.18 then 1.24

Stop loss: 1.045

Reason: High Volume breakout above 1.065 resistance level that it was trading below for more than 2 weeks after the plunge seen on 30^th May due to negative news on its management. Clearing of sellers at 1.10 to 1.105 can serve as a confirmation to 1.16. At current levels, also coincidentally crossed above the 20 DAY SHORT term MA which can signal some momentum ahead especially if Strong Volume persist. MACD indicator oversold, and looking at a Bullish crossover currently.