CORRESPONDENCE COURSES
YZJ Shipbldg: Reversal in progress? Price 1.51.
Author: Trading Impossible | Joey Choy
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Just about 2 weeks back, after the sell down in global markets and after seeing some stability..
Some stocks began coming into our radar for a potential reversal and,
YZJ Shipbldg was one of them…
It was holding really well above the 1.35 support level which coincides with previous levels and some signs of rebound were spotted…
Especially, if we see a move above 1.40 which coincides with the 20 day MA, a potential reversal maybe on the cards…
Hence, some target were drawn as seen below..
Over the past 2 weeks , we have managed to break above the 1.40 level and traded higher…
Manage to see a higher support at 1.45 over the past week which is a good sign too..
Looks like it may attempt some bullish moves above 1.50 soon where the upside can continue…
Target has been reiterated again as per below..
A positive above 1.50 for now… watching to see if it continues to head towards target..
