ehehe ..... long time no see hor...

See la...
you no put counter name down.....
you think magician what I am meh....

This would have been the equivalent chart you posted.



As you from that chart....
what could I have seen?

Where's 242? It's not even on the chart.
Has the stock traded above 242 before? Can't even tell.

So my answer to 'if this 1 break 2.42, how ah?' .... err..... yea.... a bit too sarcastic...
but that's the best la ...
I could have answer...

from your chart...
the stock has already shown great momentum...
trading from a low of 180 to 230+ ...
impressive run.

and only when I zoom out a little (and knowing the stock name)...
using a slightly longer time frame...
I finally manage to see what you are trying to say...



... and as you can see...
it should be 243 and not 242...

If you followed my postings, generally I am not into S&R....
supports and resistances .... err.... it's like its there but isn't there type of indicator...
sometimes it's good to know... but then... sometimes.... it's simply simply not even relevant..
One day they would draw the S&R lines here and there...
the next day....within a blink of an eye.... one of the lines is quickly redrawn....
LOL!
Some would go... 'how could an analysis be so flip floppy so fast one?'

Anyway.... for me ... using ur 242.... I would HAD probably drawn these two lines...



so technically....
there's a chance/possibility the stock could retest that previous high of 285....

(please note the exact england meaning of the bolded words)

The question to be asked is....

Is there enough momentum to drive the stock forward?

Your initial chart...



The stock had a deep correction in Nov.

Since Nov is a reporting quarter for YSP, it's damn important to know what happened.

** Now the stock started giving way early early Nov.
Notice the black candles that kicked of Nov?
Next we saw that YSP only reported its earnings on 15/11
and ..... boom boom pow!
stock went longkang big time on 16/11 - the day after the earnings.

2 things ...
Q earnings can impact stock bad bad - esp for those stocks branded as 'fundamental stocks'
for some stocks... insiders always seem to know.... ***

Moving on...



Well for me...

1. The Dec/Jan movement... I would consider that as general technical rebound to account for the Nov collapse...
2. Stock started kicking up in Feb. Notice the long white calendar on 3/2 ?
3. Deja vu again? Insiders know?
4. Boom boom pow! And they win again.... YSP had a strong 4th Q.
5. The movements in March... were as expected....
6. However.... the recent most 4 candles.... very. very, strong.

This is how I would have done my review.

And judging from all these, perhaps I would say that there's justifications to reckon that the stock could indeed retest the next high.... counting in the fact that market sentiments is rather positive lately....

BUT..... as a risk management issue..... you probably might want to take into consideration that the stock did not really have a decent consolidation period ... so you need to account for it......

This type of answer ok bo?

Fingers got keyboard blisters liao.... boohoo.......