20 Mar '12, 8pm

Yongnam: Immediate support at 25c.

Yongnam: Immediate support at 25c.

Yongnam: Immediate support at 25c. by AK71 on March 20, 2012 Yongnam’s share price has been rather stable. As a counter’s share price sees a reduction in volatility, Bollinger Bands would start to narrow and “squeeze”. The beginning of such a squeeze is being observed here. Daily chart. A trading strategy using Bollinger Bands is to look out for an oncoming squeeze. This could be the precursor of an impending surge in price. Couple this observation with how the rising 50dMA seems capable of acting as support in this case, there is a chance of Yongnam’s share price going higher in time. The 50dMA also coincides with a trendline support which connects the lows of mid December 2011, February 2012 and March 2012. Volume has dwindled while the OBV has flatlined. Not much activity either way. Who would blink first? The bulls or the bears? Yongnam’s fundamentals are strong and te...

Full article: http://thefinance.sg/2012/03/20/yongnam-immediate-support...

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