December 3, 2023

YZJ Shipbldg: A rebound caught, are we back to selling again? Price 1.31

Author: Trading Impossible | Joey Choy
Go to Source

Since Oct last year, we have seen YZJ Shipbldg supported well above 1.20 which has been holding really well..

Hence, a potential rebound opportunity came again about 2 weeks back when we approached this level

And some upside targets were drawn to catch a rebound with short term indicators still looking positive then..

See where we were then, and upside targets..

Over the past few days, we have traded higher towards target and hit,

Some selling coming back as we approached the 1.35 resistanceโ€ฆ

Awaiting more bullish actions above 1.35 if the upside reversal is to continue furtherโ€ฆ

We may see a potential retracement with some consolidation from 1.25 to 1.35 for now before more directionโ€ฆ

Read more