TITLE: Yangzijiang Shipbuilding (SGD) – Technical Analysis Outlook
Lim & Tan Securities 17 March 2025

Yangzijiang Shipbuilding (SGD) – Technical Analysis Outlook

   

Short-Term Bullish Outlook

According to the research report, the price direction of Yangzijiang Shipbuilding (SGD) is forecasted to be bullish for the next one to two weeks in the short-term. The analysts at Lim & Tan Securities thus recommend a BUY rating based on their technical analysis [[1]].
Despite the share price of Yangzijiang Shipbuilding (SGD) having moved down by more than 23% year-to-date since closing at $2.99 on 31-Dec-24, the analysts note that the sell-off may have been overdone and that the prevailing momentum is now no longer bearish 1.
Presently, the MACD chart is emitting a positive signal for the share price, evidenced by the bullish crossover which had manifested when the MACD line cut above the signal line from below during the past fortnight 1. Meanwhile, the Relative Strength Index (RSI) is currently below 70 and trading at 45, indicating there is much room left for further appreciation before the stock reaches overbought territory and experiences a pullback 1.
For the near-term, the analysts see the share price upside for Yangzijiang Shipbuilding (SGD) being capped at the $2.43 resistance mark, given that this is where the daily high on 10-Mar-25 is located for the stock 1. On the downside, should the price momentum turn negative, support at the $2.21 level as outlined by the trend low on 13-Mar-25 could serve to limit any further downside in the short-term 1.

Medium-Term Sideways Outlook

Looking at the weekly chart, the analysts have a sideways outlook for Yangzijiang Shipbuilding (SGD) in the medium-term, with resistance seen at the \$2.50 level and support at \$2.15 [[2]].

Long-Term Bullish Outlook

Over the long-term, the analysts maintain a bullish view on Yangzijiang Shipbuilding (SGD), with resistance seen at the \$2.73 level and support at \$2.07 [[3]].