Yangzijiang (technical)

Yangzijiang: UOBK Technicals says Buy with TP $1.08, with tight stops placed below $0.95. Notes prices appear to be supported near its mid Bollinger band and above its 50 day moving average. RSI has rebounded from 40 and MACD has formed a bullish crossover. Tips to watch if the stock can close its gap down on 16 Jan '13, which is likely to be the immediate resistance level. Fundamentally the house has a Buy with TP $1.45.