YZJ Shipbldg SGD    Last:2.23    -0.02

One of China's largest shipyard

YZJ 

So they are going to design their own ship for cost saving?

Look out for a technical rebound today.

First level of resistance at $1.68, followed by $1.74. Strongest resistance at $1.84.had acquired 60% equity interest in the capital of Shanghai Henggao Ships Design Co. Ltd for a purchase price of RMB6.72million.

 

Another 6% dip today...this stock become a poison just within 2 trading days?

 

 

YZJ broke out of it's descending triangle formation with heavy volume. Notice that $1.86 has been a strong level of support so once this support is broken, there is heavy selling. The price objective approximated by the descending triangle formation is around $1.51. Coincidentally, $1.51 was the lowest closing support level in August thus $1.51 is likely to remain as a strong support technically given the confluence of the above two technical factors. The chart is available here.

 

Down down down...

 

China plays - for long term (S.T)

Monday will be in serious trouble for China plays or ship building plays

 

TA charts show bearish signs. Acc/Dist and Chaikin are on a downtrend. 

 

It is down from its peak, so I 'll put Yangzijiang in my 2009 watch list.

 

ha ha ha ha , many ppls are caught by surprise of yzj.

 

Yangzijiang and NOL fell as softening freight rates and a gloomy outlook for the world economy dampened investor sentiment for the sector, dealers said.

"What you have is slowing freight rates, the tail end of the ship building cycle and fears of a recession in the United States, so the sector is coming off," said a dealer at a local brokerage.

The London Baltic Exchange's dry sea freight index, which gauges the strength of the global seaborne dry commodities trade, sank to a 3-month low on 8/1.

 

for me 2-5 mth is mid term. Anything beyond that is long term to me

 

"This counter seems to have lost it's appeal leh...these 2 days trading a 3¢ range bound"

Slow and steady is good, no need to attract too much attention...

 

Ideas, what is the time period for your mid range?

 

This counter seems to have lost it's appeal leh...these 2 days trading a 3¢ range bound.

 

MACD does not look good for the past 3 days.

Wail till William is at close to -100 to accumulate.

 

Hi loyfam88, it all depends on your investment horizon. Any price is a good entry if you are a short term investor or punter. Buy on dips and throw on strength. I did it a couples of rounds, but prepare to cut loss if you are not zhun on the dips. If your investment is on a longer view, like what Sporeguy had mentioned in his very constructive brief, 2.30 & 2.10. My view on this counter is mid term 3.20, long term 4.50+. Please do your homework before you plunge your hard earn $$. Bless you! I am not vested yet, I am with COSCO, mother of all ships!

 

38.2% retracement will be at $2.30 may be a good one to accumulate.

61.8% retracement to $2.10 will be excellent catch!

 

below 2.5 would be better to consider...

 

For those vested and have been monitoring this counter. At 2.64, is it still a good level to go in?

 

Posted: Tue Oct 23, 2007 10:39 am    Post subject: Yangzijiang tested $2.87 recently again -------------------------------------------------------------------------------- Believe YZJ will cross $3 and heads towards $3.50-$4.00 when included in STI index in 2008 and when QII funds start buying..will be another Cosco and Yanlord..many shorted recently at $2.70 but it continues to move up after hitting alow of $2.49 on Oct 23 Yangzijiang Shipbuilding -------------------------------------------------------------------------------- Yangzijiang To Bounce To S$3.20 Resistance: OCBC [Dow Jones] Yangzijiang Shipbuilding (BS6.SG) +3.4% at S$2.77; OCBC says charts tip bounce up to resistance at S$3.20. "The short-term stochastic indicator has reversed direction from its dip close to the oversold zone, signaling further upside lies in the days ahead," research note says. Adds stock showing signs of recovery after three-day pullback, falling to low of S$2.43 on Oct. 17 before reversing to close above the 23.6% Fibonacci retracement level. Also notes bullish candlestick pattern formed yesterday; support level set at 38.2% Fibonacci level of S$2.29.
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Agree with you, my friend, esp on finding other potential candidates to short.

Gonna work out potential candidates over the weekend and be ready to implement these.

Congrats on the profit! Time to enjoy the Fri evening. :)