June 25, 2024

YZJ Shipbldg: Targets to the upside still playing out? Price 1.51

Author: Trading Impossible | Joey Choy
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Since the end of Jan this year, we have already seen some signs of upside reversal in YZJ Shipbldg…

It was trading below the 1.35 critical level since March last year and there was an attempt to break it…

Hence, some target were drawn to capture any upwards move as seen below

Especially with indicators looking positive….. target to 1.55 at first.. see what I mean below..

Over the past 1 month, we have indeed seen the move up but not straight away to 1.55 as per above target..

There were some consolidation in YZJ Shipbldg below the 1.48 level with some profit taking…

But buyers were still coming in on any dips and a rebound seen each time with support at 1.40…

Therefore, some upside targets were revised higher again for a potential rebound trade..

And potentially a move higher on some bullish actions spotted.

Over the past few days, we managed to see some nice price actions returning..

Trend indicators were also looking positive with the uptrend set to continue baring any negative news flow..

Have seen a high at 1.53 today before some profit taking..

Upside targets as drawn previously and revised higher may still be playing out.. Watching..

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