Yangzijiang: a sell down towards 1.00 as per call issued then a rebound from this level.... price 1.03

Where to now?

Sent: Thursday, January 07, 2016 9:51 AM
Subject: ************** Yangzijiang: Breakdown below 1.05 support, price 1.04

Have seen a sell down as it rebounded slightly yesterday with a break below the 1.05 support as mentioned yesterday…. Can head towards 1.00 short term where we can expect some support again.  Those who have shorted on a technical rebound yesterday near resistance can consider covering back and scaling back trades near 1.00 support…

Sent: Tuesday, January 05, 2016 10:17 AM
Subject: *************** Yangzijiang: Rebounding from key support... price 1.08

Yangzijiang has traded lower over the past few days on market weakness and has headed towards the 1.05 support before a rebound seen today. This level has held last month when it rebounded from it and also supported pretty well over the past 2 years. Those looking to bargain hunt can consider this counter by scaling trades near 1.05 level for any potential rebound. Resistance would be at 1.10 then 1.15 which is has been trading below for almost 2 months. Break down below 1.05 can see a move to 1.00 where we can expect some strong support again. Overall trend still down for now with it trading below the longer term moving averages which are also pointing downwards, so cfd sell positions can used near resistance for any trade back down.