$YZJ Shipbldg SGD(BS6.SG)appears to have "woken up" this week and this is a follow up with a technical analysis:
* Signal & Trend: BS6 has triggered a BULLISH signal after breaking out above its red Supertrend line. A BUY ('B') signal is active with Supertrend support at S$3.572.
* Price Action: The stock established a floor at S$3.40–3.50 following a decline from ~S$4.80. It recently broke past its S$3.80 consolidation resistance, surging above S$4.00 to indicate a trend reversal.
* Volume Confirmation: The breakout is validated by a major volume surge (~38M shares), significantly higher than the recent daily average.
* Key Technical Levels:
- Immediate Target/Resistance: S4.20–S4.30 (next resistance) and S$4.50–S4.80 (previous highs).
- Support Levels: S$3.75–S3.80 (flipped resistance line) and S$3.572 (Supertrend support).
- Stop Floor: S$3.40 (June swing low).
** Outlook: Sustaining price above S$4.00 favors continuation toward S$4.25+ (gap). A pullback toward S$3.75–3.80 that holds could offer a re-entry, while a drop below S$3.572 invalidates the bullish setup.
Disclaimer: This is NOT financial advice! It is only a sharing of my personal amateurish opinion supported by my own trading app.
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