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Wednesday, January 10, 2018

Yangzijiang (BS6) - To buy or not to buy?

Based on RMO Trade Model, a fresh breakout buy signal has surfaced. A new long can be taken:

However, classical technical analysis reveals a possible scenario where "history may repeat itself". Current price action ressemble Aug 2015 where the uptrend line was broken. After a 'return move', prices turned bearish. In view of the doubt, it is advisable to adopt a wait and see strategy instead of taking the new long based on the RMO trade model buy signal. 

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