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Monday, 9 February 2015

Yongnam: 9 February 2015, Monday, 5.45pm Singapore Time

Yongnam: 9 February 2015, Monday, 5.45pm Singapore Time
Chart courtesy of Chartnexus.com

Attached above is the daily chart of Yongnam that is listed in the Singapore market.
Refer to full Technical Analysis as illustrated in the chart above. It is all self explanatory.

Refer to my 11-June-2014  warnings to get out of Yongnam, 
reiterating that Yongnam would break down 19 cents;
Link of the previous analysis' warnings is attached as follows:

Two persons told me he/she invested Yongnam at average price of 24 cents and 36 cents respectively using Fundamental Analysis and saying it has good bright prospects. They bought at the high when prospects seemed good. Unfortunately, when salesmen in the markets want to sell to you, you will only hear the good news from brokerage reports like great advertisements on TV and whatever reports you can find.
 I am afraid to say, Funds Flow Analysis prevails. 
Market is forward looking, the reason why it is sold off will be known only years later. When the reason is known, and many want to sell on fear and despair, I will be buying.

Good luck.

Donovan Norfolk Ang Technical Rating:
Bearish
(Short/Sell/Unload on any market gracious rebound)



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