Technical Pulse: Yanlord Land Ltd June 5, 2017 74
Technical Buy
Yanlord Land Ltd – Daily timeframe (Update from 25 May 2017)
*Entry Price: 1.945 Stop loss : 1.740 Take profit : 2.100
Current Sentiment: Bullish
Support 1: 1.820 Resistance 1: 1.990
Support 2: 1.745 Resistance 2: 2.100
Price appears ready to head higher next shown by the bullish breakout.
After the last update, price remains stuck in the range as the 20 day moving average relentlessly held price up.
The bullish breakout above the 1.900 range high finally occurred on 02/06/17 with increasing volume signals an accelerating bullish momentum building up.
Expect price to continue to move along the uptrend next to test the 1.990 resistance area followed by 2.100 as outlined in the previous report.
Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!
Featuring regular TA posts and requests to analyse specific stocksAbout the author
Jeremy Ng
Research Analyst
Phillip Securities Research Pte Ltd
Jeremy specialises in Technical Analysis and has 10 years of experience in studying price action. His areas of expertise include intermarket analysis on the equities, currencies, commodities and bonds market.
He is also a regular columnist on The Business Times - every Monday ChartPoint column.
He graduated with a Bachelor of Science in Banking and Finance from University of London.