Author: Trading Impossible | Joey Choy
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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 resistance…
Awaiting more bullish actions above 1.35 if the upside reversal is to continue further…
We may see a potential retracement with some consolidation from 1.25 to 1.35 for now before more direction…
YZJ Shipbldg: A rebound caught, are we back to selling again? Price 1.31