The recent run in Medical Stocks in the Singapore market has seen a lot of hot $$ flowing into penny stocks. One cannot not take notice of it because it's flashing everyday in the Top 30 Volume and the hottest stocks were mainly medical counters. So how to find great perfect signals trading medical stocks? One has to study the Top 30 Volume for the flashing out numbers and then correlate back to the chart. Great profits were made in IX Biopharma the last 2 days where the stock just up crazily in the wave.
Before the buyers were accumulating, there were some breakout behavior where the stock shot up and the simmered off. Soon, the stock went through a range in the daily chart and that's where the big buyers were accumulating. They weren't throwing the stock but slowly buying and keeping it for a bigger movement. 1st behavior was recorded and as the stock started to run again the past 2 days, the same pattern emerged where the first day ran big time and second day sold off at fast speed. In the 5 minute chart, the signals were clearer with an exhausted gap up and then gap down. That's all bearish signal to sell and take profits in the stock.
Profits were made for the past 2 days in IX Biopharma and some other stocks. Using the same techniques to analyze stocks made it easier and faster for execution. The Singapore market has been easy and hot for the past 2-3 months because of Covid and medical stocks. It's pretty easy to spot and make $$ too. It's time to revisit those stocks after profit taking has simmered off.
Ronald K - Market Psychologist - A Stock Market Opportunist
