Chart Source : Poemsview 18th May 2018
Yzj Shipbldg saw a nice rebound of close to 10% back in April when we spotted the rebound at $1.15. It shot up all the way to $1.26 hitting our second target in which we turned cautious as it was unable to break the $1.26 resistance. Remember to always have a trailing stop in order to protect your profits.
Fast forward to May, Yzj Shipbldg has seen a steady decline ever since it hit our $1.26 resistance.
A double bottom is reached but will it hold? Market sentiments are weak now and Yzj Shipbldg in our opinion might not hold.
Xd of $0.045 is today but we could only see support around $1.01 or even lower as there might be no near term catalyst for Yzj Shipbldg.
Lets watch and see how this turns out.
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