Yzj Shipping has had a fantastic run the last two weeks or so but the momentum seems to be slowing down.
The Upper trend line seems to be resisting it from running further hence it might suggest some pullback in the making. It is currently consolidating around the box region which we have drawn.
Our trade plan might be to look for a short entry at around 1.62-160 area with a tight stop loss at 1.645, or when it breaks below the 5 days moving average which has been supporting it of around 1.575.
We’ll be watching for the momentum if it breaks above 1.645.
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