In mid-June I posted in Bulls & Bears that YangZiJiang continued to trade within its downward channel with more downside to go. True enough, YangZiJiang fell to a low of $1.39 close last week.
Using the chart, YangZiJiang has some signs that the price has bottomed out. Of course, the more seasoned audience will caution that this may be just a short retracement, i.e. the price may have more dowside.
However, given that US's QE2 is ending in a few days and the big funds should already have exited their positions, there may be limited downside to stocks with good fundamentals. YangZiJiang's RSI and MACD show signs of bottoming (last candlestick is still forming in chart above). Should YangZiJiang maintain the support of $1.40-$1.42 and close positive over the next few days, July will be a good upward price movement month for YangZiJiang. No vested interest (at this juncture).
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