Thursday, July 12, 2018

Hi-P - Good Intraday Move

Many stocks started to move and the one that caught my attention was Hi-P since it moved the most with a good intraday % return. The stock was strong but unfortunately because of yesterday's Trump tariffs, it gap down and then slowly recovered. It went into some collections mode and slowly the queues stacked and the stock started to breakout as we witnessed now. Happy to see my student made like $550 in Hi-P.

At one point, I saw some good biting actions from the BBs where they swallow big lots and then remove some sell queues. It was such a classic move which eliminate the resistance and allowing fresh new demand at higher price. I love studying buy/sell queues because it's an art and skill that most smart money possess. Hence, when a stock move, it's wise to study supply/demand to determine if the buyer is strong or the seller is weaker. Nice intraday move in Hi-P with 5.7% in one day!

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Ronald K - Market Psychologist - A Stock Market Opportunist