Technical Pulse: Yankuang Energy Group Ltd January 13, 2022 329

Yankuang Energy Group (HKEX: 1171) The upside is set to continue after recent technicals indicated positive signals:   

 

  1. The cup and handle formation is indicative of a continuous bullish upside, and the price has broken out of the flag/handle formation, the first signal of a bull sign.
  2. The bullish candle on Wednesday was seen closing above the Tenkan-Sen and Kijun-Sen.
  3. The Senkou-Span A is seen sloping up, indicating a strong bullish momentum ahead.
  4. The DM+ is seen above and the ADX is seen ranging at the top, meaning that the bullish trend is still going strong.

 

 

*Expected timeline of the trade is 25 weeks from the date of report issuance.

 

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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