This stock has been tanking down since the news of its executive chairman has been involved in a investigation by the governmental authorities. From the daily chart, buyers are coming into YZJ, pushing the stock from 15 Aug to 19 Aug. This is a trap for the retail trader to chase YZJ. Based on the hourly chart, sellers are slowly transiting into buyers. We might see YZJ going on a higher high with a trap set at around $1.06 before moving higher. Cut loss at $0.95
Note
We have seen a strong support from buyers in the hourly chart. YZJ reaching 1.06 soon. There might be some selling at 1.06 before moving up.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.