Tuesday, March 10, 2020

DBS - Why Take Profits Today ?










DBS soared high today and touched 21.71 earlier during trading session. At that point, there were really a lot of sellers coming out and I saw it touching a supply zone in the intraday chart which I thought it would be wise to lock in profits first. Soon, after we locked in at 21.65-21.7, the stock got slammed down to 21.49 closing. It tells me that what I saw and observed was correct after touching a high of 21.71 as shown in the 5 minute chart.

Got all my somm students to exit first and see tomorrow since there were very good profits. I see many of them profited and were happy with their intraday profits. If you study the 5 minute chart, you can see as the stock trended higher, there was a lack of permanent strength and as it shot up higher and higher, sellers were all waiting at the zone to take profits. So glad to see many made $$ while I watch the whole chart unfold itself. Congrats everyone!

Ronald K - Market Psychologist - A Stock Market Opportunist