Ying Li

Ying Li: the counter just broke upwards above the downward sloping channel line which may finally signal a reversal back to the $0.38 level. Horizontal resistance at $0.28 which it has stayed below for about 2 months, has been taken out too with the 20 day Short term MA line reversing upwards currently. As long as it stays above $0.28, the counter could be poised for a breakout above $0.300. This can then pave the way to $0.325, $0.35 then $0.38. Macd indicator trending upwards gradually at the moment with volume strong than average. Stop loss at $0.27 . Latest news: Following shareholders' approval on 2 Sep for the issue of new shares and perpetual subordinated convertible callable securities to China Everbright Limited (CEL), Voyage notes that Ying Li remains undervalued and investors are able to buy into the company at around the same price as CEL. Ying Li intends to expand into tier 1 cities with Beijing and Shanghai under the deal with CEL, which may portend towards a move towards being a national level developer. Other than cooperating on development projects, house reckons both companies may combine their retail properties into a REIT at a later stage. On completion of the share issue, Ying Li will emerge much stronger financially with gearing as low as 15% and about Rmb1.5b cash.