Robin Ho Smartrade: Yangzijiang

Showing posts with label Yangzijiang. Show all posts

Thursday, November 7, 2019

Yangzijiang - Bearish Price Action

On 5th November, it was ramped up on high volume, giving the impression that the stock has finally turned around after a period of consolidation. Today, the stock reversed to give up almost all its gains. Many traders were caught on 5th November and it will take many more days before the stock can turn up again. It could test the last support 0.95 in the short term. A break below 0.94 could see the stock price testing its low at 0.91 again.

All posts and charts are for educational and illustration purposes only

Wednesday, June 21, 2017

Yangzijiang

On 2 june when YZJ was at 1.29 this blog said that Yzj could have peaked and correct to 1.21. Today it has broke its crucial support at 1.20 and is poised to go lower to its next target 1.14 and 1.08. Yzj builds bulk carriers, commodities prices has been coming down after an promising rebound in the 1st qtr of the year. Prospect of more orders for bulk carrier and container ships looks bleak as ship owners cuts capex..

All posts and charts are for educational and illustration purposes only

Thursday, June 8, 2017

Yangzijiang

Yangzijiang - On 2 June when Yzj was at 1.29, this blog say that Yzj bull run will take a short break. First target at 1.21 was hit today. It could consolidation here in the short term. Any break below 1.19 will see the stock heading to 1.12. With the Baltic index down 38% from its high this year, contract for bulk carrier with be in doubt.

All posts and charts are for educational and illustration purposes only

Friday, June 2, 2017

Yangzijiang

Strong run up but its time it could pull back. Huge volume between 1.27-1.28 usually signalling a short term peak. Could pull back to 1.21, strong support at 1.12, this level will offer a opportunity to accumulate this stock for the next upswing.