Yangzijiang Shipbuilding's Share Price May Extend Gains, Chart Shows
Dow Jones
Jan 08
Yangzijiang Shipbuilding's share price may extend its gains, based on the technical chart, Phillip Securities Research's Zane Aw says in commentary.
The share price has broken out of an ascending triangle consolidation pattern to the upside, the analyst notes.
Also, the moving average convergence divergence indicator has formed a higher low and is holding above the zero line, which support the bullish view, Aw says.
Initial resistance is pegged at S$4.14, the analyst adds. Shares last closed at S$3.64.
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