Yangzijiang: Pull Back and Test 200D SMA

Yangzijiang pull back to test the 200D SMA after rejected at $1.15 with a Bearish Engulfing candlestick pattern. If Yangzijiang can stay above $1.00 (also the 61.8% FR, Uptrend support & psychological resistance turned support), there is ¬†good chance to continue the up trend. Current Yangzijiang is showing a “Higher High, Higher Low” uptrend pattern.

Things to watch:

  • Bullish candlestick pattern at this support level.
  • Clear $1.04 Gap resistance.
  • Whether can stay above $1.00. If not, next support is $0.97 (50% FR and 50D SMA)

Previous Analysis on Yangzijiang.

Yangzijiang falls after announcing warrants issue plan.

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