Yangzijiang

Yangzijiang seems to be losing steam after the recent rally. If tomorrow gap lower or end lower, I will suggest to cut lose and vest in another gem. If you are holding on to paper profit, I will suggest to take profit first and vest in another hot gem while waiting for Yangzijiang to finish correction.


Lower Channel Break. YZJ could see more downside/correction in the short term, after a break below its lower channel line.

Indicators are bearish as well. 3EMA cross-below 15EMA, suggesting the start of a downtrend in the short term. MACD is in a bearish mood as it cross-below signal line and momentum losing steam, suggesting more correction should follow. The fact that OBV are falling and RSI slightly below over-brought zone slanting towards neutral zone suggest that demands are decreasing.