Chart Source: Poemsview 7th Sept 2018
Yanlord is currently on our watchlist as it nears its double support. As we can see from the chart its currently in a big sideway consolidation.
Its current support is at $1.44 while its resistance is at $1.58
If Yanlord test the $1.44 support and breaks it then the consolidation might be over and we might see it move lower. What we’ll be looking out for is the momentum of the selling and whether it can stay below the $1.44 support. We’ll keep a close watch to see if it will recover after breaking.
One possible move that Yanlord might make would be to stage a rebound at $1.44. Rebound for us might be a chance to short.
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