Yanlord Land Group (SGX: Z25) has been on a downtrend since the share price broke below the support level of 1.06 in early March 2020. Despite a modest rebound in late March to early April, the momentum seems to be slowing as displayed by the candlesticks formation and thus, the rebound seems to be a corrective move rather than of an impulse. Further technical actions indicate a return of the bearish downfall:
*Timeline of the trade should be between 1-3 weeks from the date issued.
*Should price reverse higher, the next level that will be tested is at 1.11.
Red dotted line = 200 SMA
Blue dotted line = 50 SMA
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