After my last Friday blog post on the panic sell down in Medtecs Intl where I spotted near the bottom, I have got a lot of emails where people asked me how did I know it will rebound and how do I know it already touched the bottom where the quality of the supply was so weak. For those who came on the weekend where I shared and gave out my prediction that it would rebound, indeed, the whole market is red while only Medtecs Intl is currently up 8.8%. Read my Friday blog post below.
http://stockmarketmindgames.blogspot.com/2020/07/medtecs-intl-throw-down-with-sellers.html
What you see now is that the stock was rising with higher price, but what you don't see is the work behind where the accumulation and distribution happened after the profit taking. In the daily chart, there was a sharp pt and as spotted last Friday and shared over 2 weekends that the distribution would occur, it's currently the strongest medical stock compared with it's peers. I am usually making phone calls to get trades running and I am pleased to see some of you who followed my calls making good profits in the Singapore market. I love to see those panic sell down from retails because that's where I know price is cheap and a rebound is happening. See you all soon!
Update: 20/7/2020, 11.57am
Ronald K - Market Psychologist - A Stock Market Opportunist
