Thursday, September 14, 2017

YZJ Shipbldg: A reversal in progress? Price 1.46

We have seen a really good rally for YZJ Shipbldg over the past 2 months in July and Aug to a high of about 1.64 before the recent sell down.

On the PTI SYSTEM, there were actually some Bullish Entry and Exit signals over the past 2 months.

In fact, we had an EXIT SIGNAL just before the recent sell down…

See what I mean below.

For illustration purpose only

After the sell down and over the past 1 week, we have seen some stability with buyers returning near 1.40 level.

Have been consolidating from 1.40 to 1.45 over the past week where a note was sent on Monday on a potential reversal again…

And maybe even an entry signal on the system again?

See chart with targets that were drawn below. Price was at about 1.42 then..

For illustration purpose only

Seems like we have seen a move yesterday above the 1.45 resistance…. 

With a high at 1.48 yesterday before some profit taking..

We can still expect the upside to continue above 1.45 and maybe an attempt to cross 1.50

Targets drawn may still be on track….

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