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Tuesday, January 23, 2018

Ying Li - Has it finally bottomed and turning up?

Ying Li - After a relentless downtrend from  2013 to 2015  followed by a rangebound trading between 0,13 and 0.20 from 2015 to date, is the stock finally turning up?  The share price jumped 15% or 0.024 to close at 0.178 following news of its proposed divestment of Ying Li International Commercial Centre to China Evergrande for Rmb3.29b. The company is expected to realise a disposal gain of Rmb 343m. Today the stock spiked up after a off market married deal of 153.4m shares changed hand at 0.135. Who took the block of shares?  This suspense is adding to the bullish sentiment today , on the chart it looks like this stock is poised to test its next resistance at 0.194 followed by 0.21. A break above 0.21 should herald a start of a new uptrend for this stock with targets of 0.24 and 0.28. An estimated NTA at 0.40 also imply it is attractive at current price.
All posts and charts are for educational and illustration purposes only

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