Thursday, January 5, 2017

SingMyanmar - Coverage, Volume and Activity

On Jan 3rd 2017, an analyst report came out to initiate a buy for SingMyanmar. I saw and read that report and had attached it above. I am not so much into the fundamental news but I saw some last minute buyers whacking the stock up which made me think if the stock is still strong after some coverage. Indeed, the stock trended higher, however there was a problem, it was rising on unusual volume which pique my suspicion.

This morning, the stock hit a high of 0.64 with an amazingly high volume and then started tumbling during late trading hours. I saw the sellers volume and also the sellers are locking in temporary profits. The buy/sell Q in the market depth also started to flip where the answer was dead obvious. I wanted to short but there wasn't any scripts and hence left it out. It's ok, I will watch for the next turning point for now.

I had created a Singapore stock forum in Facebook. If you would like to join, can click the link below. Occasionally I will post some important stocks/alerts for trading there.

Ronald K - Market Psychologist - A Stock Market Opportunist