Yangzijiang: Breakout!

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Yangzijiang breakout from a few key resistances:

  • Neckline of Inverted Head and Shoulders @$0.97
  • $1.00 psychological resistance
  • 200D SMA @ $1.00
  • 61.8% Fibonacci Retracement @ $1.00

This $1.00 is a very significant resistance for Yangzijiang. However the stock is rejected at $1.147 with long upper shadow indicates potential reversal. Anyway it is too late to chase the stock price, it is safer to wait for the retracement to test the $1.00 resistance turned support level.

By the way, it is not really a big surprise that big cap China stocks breakout and reverse to the uptrend. Those breakout are supported by the Fundamental of China Economy. Read my previous post of China Big Cap ETF (FXI) here.

Key Statistics for YZJ

Current P/E Ratio (ttm) 5.6940
Estimated P/E(12/2012) 6.1062
Relative P/E vs. FSSTI 0.4648
Earnings Per Share (CNY) (ttm) 0.9937
Est. EPS (CNY) (12/2012) 0.9270
Est. PEG Ratio
Market Cap (M SGD) 4,272.77
Shares Outstanding (M) 3,832.08
30 Day Average Volume 14,463,500
Price/Book (mrq) 1.4746
Price/Sale (ttm) 1.3167
Dividend Indicated Gross Yield 4.93%
Cash Dividend (SGD) 0.0550
Last Dividend 05/17/2012
5 Year Dividend Growth
Next Earnings Announcement 02/26/2013
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Yangzijiang: Double Tops!

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A Double Tops chart pattern is observed on Yangzijiang daily chart with neckline at about $1.25. Breaking down from this reversal chart pattern will send Yangzijiang to the price target of about $1.11. Currently the stock is just trading around the neckline support. Both weekly and daily charts are bearish base on 2/5 EMA, 20D SMA. MACD shows the bull has lost the steam as well.  Another potential stock to short.

Yangzijiang Fundamental.

Continue ReadingYangzijiang: Double Tops!