Yangzijiang (YZJ): Rebound but ….

Yangzijiang rebound strongly today after forming a Long Dawn Line candlestick pattern with a spike in buying volume. This is a trend reversal pattern after the recent down trend. However, YZJ must clear $1.38 (61.8% Fibonacci Resistance) and $1.45 (neckline support turned resistance) to break the down trend pattern.

  • Current Price: $1.325
  • Current PE: 8.81
  • Rolling PE: 7.94
  • FY09 PE: 9.98
  • FY08 PE: 16.34
  • FY07 PE: 29.78

Current YZJ valuation is not expensive and it is a good opportunity for short term trade to ride on the rebound.

Leave a Reply