Despite the recent announcement about the Seaspan deal, YangZiJiang doesn't seem to be able to break out of it's downward trend. It is still trading within the same downward trend, and it will be dangerous for any trader to pick bottoms.
YangZiJiang has more downside to go. The only consolation is that the RSI seems to have reached its bottom, while the MACD maybe reversing. With the DJIA moving up more than 100 points at the time of posting, stocks in Singapore may also rise in tandem tomorrow. If the price movement over the next few days can allow YangZiJiang to break out of $1.60, then there may be hope for this big shipbuilder.
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