Yangzijiang is looking good for it's uptrend. It tested the prior gap up made 3 closings ago with light volume sucessfully today. Furthermore, the gap up coincide with the 100d MA and these 2 factors suggest that the gap acts as a strong level of support. The next resistance will be at $2.29 and that will be the target price. We should see this being reached by the next Fed meeting if rates are being cut. With some luck, it may even breakout from the $2.29 level :)
Yangzijiang:
Friday, December 7, 2007
Yangzijiang's progress
Subscribe to:
Post Comments (Atom)
1 comments:
hey i'm a professional trader, was looking up stock code for bs6, when i saw your post; good work but from today , 28/1/08, you can use hingsight.
- macd was in exc position going up BUT it didn't yet xover the 0 line
- lotta red/black selling candles. and on the day you wrote your analysis, we had a large engulfing red candle close down (this was the clue all was not as you saw it)
- the stochs (9,3,3) were in over-bought territory and pushing thru the 80 level. while NOT totally reliable everywhere, in spore i have found them to be exc trading signals with good sensitivity to market turns.
- and if you drew a simple fibonacci retracment from low of august to the high in oct, you saw tha the 618 pull-back was not "soundly" rejected. another clue to tell you all was not as strong as we thought.
- finally, on the 10th, and 13th dec you had those large selling(red/blk) candles telling you what was to come.
Now, 1/28, where are we?:)
hahaha, anyway good luck to you.
keep it simple and keep at it, volatility is your friend. so use it.
Post a Comment