This morning, Yongnam has dropped to low of 0.28 after hitting its top trendline yesterday. As Chinese New Year is coming and short week on next week, some people may start to take profit on Friday or even today. Presently, Yongnam is supported at 20d EMA and having resistance at top trendline. I think the drop should be temporary as the is no big selling by big players, it's still ok for long term.
Thursday, February 15, 2007
Yongnam
This morning, Yongnam has dropped to low of 0.28 after hitting its top trendline yesterday. As Chinese New Year is coming and short week on next week, some people may start to take profit on Friday or even today. Presently, Yongnam is supported at 20d EMA and having resistance at top trendline. I think the drop should be temporary as the is no big selling by big players, it's still ok for long term.
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