Yanlord – Breaking Out from a Falling Wedge!

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Yanlord is going to breakout from a falling wedge. Past two trading sessions ended with two Bullish Marubozu candles with increased in volume.

  • Current stock price ($2.41) has broken 20D and 50D MA resistance line.
  • MACD has crossovered the signal line and moving into bullish convergence region.
  • RSI and Stochastic are heading upward.
  • Stock price is at the upper Bollinger Band and above Parabolic SAR line.

Price target remains the same as previous analysis of about $2.85 after breakout. Yanlord has to stay above $2.40 (a critical resistance turned support level of the falling wedge) before reaching the target. Otherwise, the stock will fall back and gyrate in this falling wedge.

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