Yanlord (SGX: Z25) technicals suggest that the stock is headed for a rebound after the bearish fall was capped at the support level:

1. The stock has rejected at the support level of 1.12, forming a potential double bottom.
2. Morning star formation above the support of 1.12 indicates a strong bullish upside ahead.
3. The morning star formation rejects the 127.2% of the Fibonacci extension level of 1.29 and 1.15, signalling confirmation of a false break.
4. Stochastic Oscillator exhibit a bullish oversold crossover, signalling a strong reversal ahead.

*Timeline of the trade should be between 1-3 weeks from the date issued.

*Should price break below 1.10, we will see the bear resume it’s downside move below 1.05.

CHART LEGENDS

Stochastic Oscillator

Period = 14,3,3

Red line = Overbought line 80

Green line = Oversold line 20