On 28 March, in this article, I highlighted $YZJ Shipbldg SGD(BS6.SI) and pointed out that the price was likely to find strong support at a key long-term trendline. See previous post here https://www.investsg.asia/posts/2879399.
The stock moved exactly as predicted — it touched the trendline, held perfectly, and has since rebounded nicely.
Most importantly, right at this trendline support, a clear inverted head and shoulders pattern has formed.
What is an inverted head and shoulders?
It is a classic bullish reversal pattern that looks like a “W”. The middle dip (the “head”) is the lowest point, with two higher dips on the left and right (the “shoulders”). This pattern usually signals that a downtrend is exhausted and a new uptrend may be starting — especially once the price breaks above the neckline (the resistance line connecting the two peaks).
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