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Yangzijiang Shipbuilding ST: above its upper Bollinger band
Trading Central | 2018-08-14 22:56:00

The configuration is positive.

Our pivot point is at 0.97.

Our preference: the upside prevails as long as 0.97 is support.

Alternative scenario: the downside breakout of 0.97 would call for 0.89 and 0.85.

Comment: the RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 0.92 and 0.93). Finally, Yangzijiang Shipbuilding has crossed above its upper daily Bollinger band (1.04).

Supports and resistances:
1.31 **
1.26 *
1.21 **
1.16
1.06 (SGD-last)
1
0.97 **
0.89 *
0.85 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 08-15-2018 at 00:56 UTC+1
Price reference: 1.06 last known on 08-15-2018 at 00:56 UTC+1
Investment horizon: ST

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