On Monday, Yanlord broke its major resistance at $1.87 and closed at $1.88 with HIGH volume of 5.78 million shares traded.
A white candle sticks with long upper shadow suggest that profit taking has occurred and this breakout is lack of conviction.
Both RSI & MACD are bullish as MACD perform a “golden cross” today.
Important Resistance of Yanlord: $2
Immediate Support of Yanlord: $1.87
Currently prices are supported by the 50 days MA and resisted by 200 days MA
Although Yanlord managed to breakout of the major resistance at $1.87 and descending triangle but the last candle stick with long upper shadow made us wonder if this breakout can be sustainable.
Moreover 200 days MA is well known to be a strong support/resistance.
Assume that the breakout is successful, do watch the important support at $1.87 and see if this rally can be continued.
It will be a very bearish signal if prices fall below $1.87 tomorrow.
On Monday, SembCorp closed at $4.34 with regular volume of 2.21 million shares traded.
A LONG white candle sticks with short lower shadow display the determination from investor on wanting to re-test the major resistance at $4.36.
Both RSI & MACD are bullish as RSI remains trending upwards.
Important Resistance of SembCorp: $4.36
Immediate Support of SembCorp: $4.15
Currently prices are well above 20/50/100/200 days MA.
As of now, the prices are trending upwards in the rising channel forming a bullish “Higher high” and “Higher Low”.
We would not suggest buying at current prices since it is too near to the major resistance at $4.36. Thus we would recommend buying on breakout of $4.36 resistance if interested.
Another critical resistance to look out is 2 year high resistance at $4.44 if $4.36 breaks.
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