Price just retraced from previous BO and still above weekly Ichi cloud. Weekly already oversold.
Price already entered Daily Ichi cloud and above blue intersect line.
Price rebounded at Daily EMA200 (strong support).
There is a big volume coming in for the past few days. Might be due to a private placement.
Therefore, YONGTAI has the potential to go upside.
The descending/ downtrend trendline might be broke soon, probably due or supported by the latest news released regarding the rejection of the vaccine application by ministry of health claimed as rumors.
Chart trading idea are based on H1 timeframe. We can either sit tight at the nearest supply or entry once the market is open tomorrow morning.
Disclaimer: If you...
My opinion on YONGTAI.
1) My "bullseye" target will be in Zone 2
2) Price between 0.255 to a minimum of 0.230
3) Yongtai is expected to bring in China Vaccination by the third quarter of this year.
4) They are still waiting for MOH NPRA approval to import vaccines from Shenzen Kangtai Biology.
5) Zone 2 in my opinion still the best zone to put your money...
In H1, the stock currently forming symmetrical triangle in the pullback (more like handle of cup and handle pattern). With the positive news today, we could expect some upside movement inside the triangle.
R 0.335
S 0.290, 0.275
This will be invalid if price continues to break previous HL 0.275
Speed: Fast with 457M shares float (44% float of 1040M...
In only 4 days, YONGTAI has climbed +156%. All indicators are oversold so we should be ready for a possible pullback.
H4 chart observed a very large cup (minus handle) pattern. If this is correct, the pullback could end around resistance zone (0.16-0.24) before making a reversal to complete the handle formation, and probably preparing for a larger breakout with...
