Posted a bearish outlook for Raffles Education last Thursday and the stock continues it's woes today with sellers constantly emerging for lower price to come.
https://stockmarketmindgames.blogspot.sg/2017/10/raffles-education-breaking-down-support.html
Unfortunately this counter is not shortable as there are no scripts but still my bearish tone for this stock was correct as the lacked of COB and buyers contributed to strong sellers selling the shares. Since there is no way I could short and can only look to long, I would need to patiently wait for the right timing for opportunities. 2 things might happen before deciding to go long.
1. Wait for a COB with some strong buying in the minute chart first, which I believe it might be soon.
2. A Flush could happen which could drive prices down in a fast mode which could alert that the bottom could be near.
If either one of those 2 scenarios happened, I will be ready to take a position on the long side. Patently waiting, patiently watching for now.
Update, 3:30pm, 23/10/2017
Some buyers just bite of Raffles Education and the price just went up 1 pip to 0.315!
Ronald K - Market Psychologist - A Stock Market Opportunist
