Tuesday, November 8, 2016

Genting SP - I Finally Saw Sellers

Genting SP is the hottest stock in the Singapore stock in this recent week. Why? Because overall volume traded was so much higher than any other stocks besides Noble Group. As the stock kept rising fiercely, at certain point it is also supposed to meet with sellers and yesterday I posted a very important short term bearish outlook in this very blog that I expect some selling first before the stock can trend higher. Click and see my blog post below when Genting was trading at 0.89/0.895!


Today, after hitting a high of 0.9/0.905, the stock went tumbling all the way to a low of 0.855 and is currently trading at 0.86/0.865. The turn for the long side is not here yet and I am still watching for a right time to enter. I believe the amount of stale bulls up there are quite huge and I need to buyers to absorb the supply first before, go through a collection mode first before I take that decisive trade.

Ronald K - Market Psychologist - A Stock Market Opportunist