After the query from SGX, best world continue it's rise the next day after a sharp sell down on a Thursday. It seemed as though there was nothing wrong with that sell down but in my personal opinion, there was huge profit taking from the Big Fish and the rise up could be distribution along the way to catch the shortists.
Studying the selling zone area, I am still bearish on best world because there were so much trapped stale bull at the top and most of them are looking to either cut loss or booked profits at higher price if possible but because the sellers were humongous, I am looking at the 1.21-1.23 zone before initiating a short sell for more down side to come. However I also note that the next sell down if it happens may not sell down as fast as the one on last Thursday and hence I am caution.
I will be giving a call through Whatsapp on either Best World entry point or another potential counter for making $. If you are interested in the Whatsapp service, don't miss out next Tuesday's Whatsapp talk! Click and register on the button below:
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picture source: straitstimes.com
Ronald K - Market Psychologist - A Stock Market Opportunist
