YZJ Shipbldg: 2nd target hit too, selling normal for now.. Price 1.24, watching for next move!

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 2^nd 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?

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See targets there were reiterated again last week… HIT !

Would be watching out for more actions to see if the reversal can continue further… 😉