$YAL ( Yancoal ) Strong Consolidationidea shown above. almost a 3 year consolidation on key support with good volume.
well above the 3 year moving average.. right at the 1 year and now the 7 year coming into play.. also a nice up channel formed.. would like to see a monthly close above the 1yr and 7yr moving averages
3668 trade ideas
YAL ShortSeveral technical indicators showing weakness in Yancoal including being 1-2 standard deviations above trend in a log regression channel, a head and shoulders pattern on the weekly chart, bearish divergence both on the RSI and stochastic oscillators as well as more fundamental data including AUD strength off the back of high and persistent Australian domestic inflation.
Get onboard the Coal TrainLooks like a very good asymmetric setup at 6.71 entry and with a juicy dividend coming your way. I can't see how this train could possibly be de-railed in 2023 even with intervention in the energy markets (and now with less La Nina events). Everyone dreams that their stocks might oneday be the cash machines that YAL actually is right now. Incredible results.
Yancoal - a new "A"/H premium?Yancoal ASX:YAL is the largest pure-play coal miner in Australia. They have a secondary listing in Hong Kong HKEX:3668 .
The shares rank equally and pay largely the same net dividends (2021 Australian dividend was fully non-franked). So, they ought to trade at the same price.
Today, 3668 is trading at close to 10% discount.
YAL Swing TradeASX:YAL
Trend observed on the 4H and looking to trade in the 1H.
• Long position, conservative target well below next resistance level.
• Currently in the low volume profile zone i.e. not much volume traded previously in this region.
• short term and long term EMA trends (daily) both bullish.
• ADX (daily) is showing strong trend strength (above 25).
• Coal prices favorable atm.
YAL.ASX_Retracement Trade_LongENTRY: 2.99
SL: 2.75
TP1: 3.58
TP2: 4.23
- ADX>20
- RSI>50,RSI<70
- Daily RS +ve
- Daily FFI +ve
- Daily MACD +ve
- Weekly RS +ve
- Weekly FFI -ve
- Weekly MACD +ve
- Breakout of range on 13 Jan 2022 with good volume.
- Retracement thereafter, and today shows volume dry up.
- Looking for it to break 3.07 for further uptrend movement.
YAL - Ready to take off?YAL has been getting very well supported on the 200SMA and the consolidation is probably gathering energy to push higher. With MACD Bullish Cross as a confluence, I am bullish YAL and expecting it to move higher in the next few trading sessions. My trade plan is as follows:
TP1 - $2.45 (potential gain 7%)
TP2 - $2.55 (potential gain 11.5%)
Stoploss - $2.15
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.