YangZiJiang
YZJ made a bottom of 0.78 on 20 March 2008. The next trading day on 24 March 2008 it closed bullishly at its high of 0.83.
YZJ has gaps at 0.925-0.92, 1.05-1.04 and 1.15-1.14. HCR is 1.20-1.40. Fibonacci levels are as seen on the chart.
YZJ has breached the 25 day moving average and the 1.15 target is right at the 50 day moving average so this target is not out of reach.
For the next few days I would be watching the 1.00 resistance level (round number resistance and downwards sloping trendline resistance). A strong break of this level would be a bullish signal.
On the fundamentals front, on 28 March after market close, YZJ announced that they had entered into an agreement to acquire a stake in Jiangsu New YangZi Shipbuilding company.
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