This week, besides Food Empire which caught my attention (click HERE), Yangzijiang (“YZJ”) also caught my attention for being a laggard. It has given up all the gains since its large 7% jump on 5 Nov 2019. Notwithstanding the recent mild profit taking, it seems to be holding up well above its uptrend line. Given that its results are just around the corner, it may be an opportune time to take a look at YZJ. Do take a look at the basis, and more importantly, the risks.
Basis
A) Chart analysis – a breakout / breakdown seems to be on hand with breakout more likely
Based on Chart 1 below, YZJ has experienced five days of share price consolidation after its large 7% jump on 5 Nov 2019. In fact, it has given up all the gains since then and closed at $0.980 today. Prices are starting to converge.
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