YZC (Yanzhou Coal Mining C0) has pulled back to support & could provide an objective long entry or add-on. Consider a stop below the 9.10 area (or higher, based on your average cost). YZC was added as a Long Setup on Oct 21 with a buy trigger for only a partial position on a move over 10.75 (bringing to a full position if & when the downtrend line is cleared). The stock triggered an entry on Nov 21 but reversed a few days later and has now fallen to a key support level. Although one could add to an existing partial position here or establish a new entry, with a stop not far below, my preference is to hold off on adding any long exposure at this point as both the $RUT & XLK (and likely some other key sectors or indices) have broken those key uptrend lines highlighted earlier today. Also keep in mind that KOL (the coal sector ETF) still remains below key resistance. The updated daily chart of YZC (adjusted for dividends) shown or click here to view the live chart of YZC.
