$YANGZIJIANG SHIPBLDG HLDGS LTD(BS6.SI)$
Where the stock stands at based on daily RSI?
Daily RSI just broke trend support as shown, a similar situation back in Dec 2022 suggesting stock could have been peaked along recent high of $1.79
Two possible scenarios:
1. quick decline which is rather unlikely given that both 20 & 50 MA are trending upwards without losing much momentum
2.
a delayed decline similar to what happens in last occurrence. Share price could possibly range-bound in narrow range with continued decline in trading volume and ended with a dive
S1: $1.50 | S2: $1.39
R1: $1.79
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