Sunday, May 20, 2018

CityDev - Sellers in Control

The Citydev chart looks ugly as the stock is breaking down from a trading range. I am not sure if there were any bad news but the chart doesn't look right at the moment. There is no buyers supporting the stock and it looks like sellers were commanding and overpowering. However upon studying the minute chart, I wouldn't want to chase and short now since I have missed the earlier short at 12.19-12.23. I will study further for weakness before taking a position.

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Ronald K - Market Psychologist - A Stock Market Opportunist