All in a day's work

This is one counter that fell from it's high of $2.80 till now less than $1 in the span of 4 months. I do believe that this counter has caused a lot of people to lose a fair amount of $$.

I've done a simple analysis based on the candlesticks and chart alone, simplified. The important question is, are there telling signs for it's up and down?

To help you understand, I've used Green and Red Arrows to illustate the telling signs.

Red - Signs to buy
Green -Signs to sell

I'll start with the green arrows.

• Firstly, a doji with a long tail is formed, signifying a possibility of a bottom and that there is some bullish sentiments on this counter.
• Next, there is a breakout from previous high and the price advance a little to $2.25.
• Notice the third arrow, breaking the resistance set a around $1.90 with the rounded top over a few days some weeks back.
• Lastly, $2.35 gap support was tested again and a doji was formed, bullish still.

Now I'll go to the red arrows.

• $2.73 was tested but then again, it did not close above with the intra day price hitting $2.86.
• Not a good sign. $2.35 gap support broken, 1st level of resistance broken.
• Another strong support is broken at $1.85, the rounded top in Jan'08.
• After the $1.85 was broken, 3 days of intensive selling brought about 2 days to strugglt but notice how the price did not even hit $1.60, the last opening price for the 3rd day with consecutive drop.
• Lastly, the price of $1.2 was broken. A price where I once posted, the tweezer bottom.

Based on TA, there had been signs. It's quite obvious and seems almost to be shouting at your face. "SELL ME!!!!!', but did hope prevail? Did you lost temporary lost the battle with Mr. Market. Live to fight another day.

'm sure there would be thoughts that say, it's easier to comment based on historical data since it'd happened. But well, if you're trading short term, cutting loss is like buying insurance. Do you buy an insurance and curse when nothing happen to you?

But then again, I do think that based on earning capacity, YZJ should not have lost so much ground. But then again it's a personal opinion. Still looking for signs of bottoming, but will not be rash. A falling knife causes even more damage.