Yanlord
Once a market darling, Yanlord has entered into a bearish bias sideways consolidation since Aug 5 ( $2.89 ). The counter has recently broken a trendline support ( blue line ), and is currently near a key support at $2.15. There seem to be a descending triangle ( black lines ) at work with which the neckline is $2.15. Once this level is taken decisively, a new short will be triggered. If the descending triangle is genuine, the target is $1.41. Personally, I can't believe this is true based on conventional wisdom. But this is what the chart is telling me subject to my interpretation is correct.
Labels: Stock Pick
posted by Market Wizards @ November 24, 2009
Comments: 1
