Follow up on last analysis, Yangzijiang has broken the neckline of the Head and Shoulder Chart pattern.

Price Target = $1.20.

Yangzijiang may be starting a down trend soon. There are a few bearish patterns for Yangzijiang stock chart.

• The stock is trading below 3 Moving Averages (20D, 50D and 200D).
• 20D MA crossed down 50D MA and 200D MA.
• A Head & Shoulders trend reversal pattern in formation. Breaking down the neckline will send Yangzijiang stock price to about $1.20 level.

Things to watch:

• Yangzijiang may bounce back from the neckline at about $1.60 and test the resistance at $1.689, followed by 20D MA and 50D MA resistances.
• If Yangzijiang cannot break these resistance and bounced down, there is very high chance that the stock will break the neckline.

I am getting ready to short …..