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 …..