Wednesday, April 12, 2017

Alliance Mineral - Phases of Selling

Looking at Alliance Mineral and the phases of selling, it suggested that the last bar maybe a flush in the making. This morning the stock sold down and then suddenly recovered. It was high chance that the BBs use this maneuver to absorb and buy more shares before expecting higher price to come. However, I would take precaution on it now because the overall market doesn't look quite beautiful. From the PT to the real selling and then a flush, it may suggest something in the pipeline for this counter. In my personal view, at this juncture, even though a flush might have happened, I would avoid this counter until more tale tell signs from the BBs is seen. From there on, I will then decide again for the next course of action.

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Ronald K - Market Psychologist - A Stock Market Opportunist