YZJ ShipBldg- [Bouncing Off Our Support]
Chart Source: Poemsview 18th Feb 2018
YZJ ShipBldg a stock that had a nice up swing for us since spotting it back at 1.51. It has risen to a high of 1.66 nearing our target of 1.70 before pulling back.
It has pulled back to our last support of 1.34 and not closing below 1.34 was a good sign. It has since then bounce off from there on thursday with an increased in volume too. Could this signal more upside?
The 200ema and 200sma is very nearby. A break above those might signal that the pullback is over and might be heading to our 1.53 target.
But of course our exclusive clients were informed of our critical support of 1.34 as it was another stock inside our TOP5 shopping list and if you are able to identify such support. Your risk reward would be good.
But if 1.34 breaks, it might be a head and shoulders in the making. Which could signal more downside. We’re watching for that.
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Kelwin&Roy
