Tuesday, February 13, 2018

Boldtek - High Volume Chasing

I am not sure what's the news but Boldtek gap up today with super high volume where many retailers were trapped if you longed this counter in the morning. During LIVE Trading this morning, I shared why it's not time to long this counter yet as the stock exhibited some bearish behavior with selling pressure of profit taking.


From the chart, Boldtek is not bad, but the timing to move higher may require a Contra squeeze to wash out the bulls first before higher price can be seen. Will wait till the Contra squeeze ends before hoping in again.

Ronald K - Market Psychologist - A Stock Market Opportunist