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.

Greece Say...

Greece is the "IN" thing now in the stock market. Getting tired of all news article reporting on Greece, Greece and more Greece.

When market sell-off, Greece is the main reason behind it, then when it rebounce a little, speculate that aid is on its way to Greece. One thing I know for sure is, if I trade with the news, I sure die very fast.

Market isn't really good thus have no prospectus picks for the past few days. I sold my counter on ChinaAOil ($1.70), YangZiJiang ($1.35) and Bakertech ($0.545) as bearish sign was seen in chart and also to protect my paper profits. I also vested my interest on a new gem called Broadway ($1.10) today.

52wk high suggest more upside potential, vested at $1.10

Long Term Uptrend. Broadway could see more upside potential, after staging a strong break above its 52 week high (1.09 - 1.10) and went on to create new high at 1.14. It was also in an uptrend since the beginning of 2010

Indicators are bullish. 3EMA just bounce off 15EMA recently and MACD just about to make the crossover above the signal line with momentum building up, suggesting more upside should follow. The fact that OBV are rising and RSI slightly below over-brought zone suggest that demands are increasing.

Support is at $1.06.