Shares & Derivatives
Stock Chart: Yangzijiang, Straits Asia!
By Dou  •  July 17, 2011

On Friday, Yangzijiang re-test the support at $1.30 and closed at $1.31 with LOW volume of 16.13 million shares traded.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

RSI & MACD are bearish though RSI in oversold region.

Immediate Resistance of Yangzijiang: $1.39

Immediate Support of Yangzijiang: $1.30

Currently prices are well below 20/50/100/200 days MA.

Yangzijiang has been very bearish as prices keep falling forming a “lower high” and “lower low”.

In fact, the breached of the critical support at $1.39 with high volume deemed as a very bearish signal.

Watch for the support at $1.30 as the selling began to ease. Do not suggest to buy this stock now.

On Friday, Straits Asia re-test the support at $2.99 and closed ...

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By Dou
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