Sunday, December 16, 2007

Yangzijiang 14th Dec 2007

Yangzijiang 141207

Broke the critical support of $1.98 on 13th Dec 2007.
Touched $1.99 again on 14th Dec 2007 briefly with 0.425 millions of shares done there.
Majority of the shares doen at $1.93, with 8.71 million of shares (45.75% of the trading volume on 14th Dec 2007) done there, which should form a significant resistant there now, if it fails to stay above there on Monday.
Immediate support at $1.90 - $1.91 (most volume done there on 22nd Nov 2007, with 2.268 millions exchanged hands).
If breaks, next support will be at $1.86 - $1.87. (20th Nov 2007's low).
Trading range should be $1.90 - $1.93 on Monday.
Watching closely on this. Think $1.90 can be broken, given DJI fell 1.32% (-178.11) last Friday 14th Dec 2007.

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