Following up from previous blog post for YZJ Shipbldg > http://singaporetradinginsights.blogspot.com/2018/08/yzj-shipbldg-target-hit-but-more-upside.html
There were some profit taking near 1.15 and we have seen YZJ Shipbldg retraced lower and found a new support at 1.05 last month.
Some upside rebound targets were drawn about 3 weeks back as we spotted some bullish price actions near 1.05…
And indicators were also looking positive in the short term…
See what I mean…
Over the past 2 weeks, we have indeed traded higher and breached the 1.15 temp resistance…
Seems like even our 2nd target at 1.25 has been ALMOST hit TODAY with a high at 1.24..
Note that we would expect some profit taking near here so one can also consider locking some profits and more importanly protect them..
Not sure how?
See targets there were reiterated again last week… HIT !
Would be watching out for more actions to see if the reversal can continue further… 😉
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