Oil related and shipping counters seem to be moving up these days. We have been looking at YZJ and think that this counter might have more upside potential.

The 200 days exponential moving average and our downtrend line that we drew seems to be quite close at 0.86. We’re hoping for it to break and move higher to .088 then to 0.92.

We can put a stop loss at 0.82 .

Yours

Humbly

Its been awhile since YZJ went above the 200ma and today it managed to stay above it. If it can stay above it for the 2-3 days we could be expecting to retest the 0.92 level. So far YZJ has been fighting to stay within that short term uptrend line which we drew. If that breaks then it could sign a reversal.

Yours

Humbly

Yzj shipbuilding a stock we mentioned before back when it was at 0.865.

http://singaporehumblestock.com/2016/08/09/yzj/

It has broke its support of 0.77 might head to 0.745 then 0.66 as we can see from zooming out to the 10 years history. Yzj seems weak to us, with recent results not good and its planning to lay off workers too and the shipping industry doesn’t seem rosy for now.

Additional news about hanjin shipping also further dampens the shipping industry.

http://www.wsj.com/articles/hanjin-shipping-moves-closer-to-bankruptcy-1472532479

Yours

Humbly

YZJ broke down a day after it’s poor results. It broke its 0.865 horizontal support and started to slam down all the way to 0.815 an early message was sent out to our clients to take note of it. So where to now?

We’ll have to look back to a 5 years time frame and we would see support at 0.8 and then 0.77. Its a weak stock to us .

Hope you all had a good National Day celebration. See you all back tomorrow

Yours

Humbly