As Debao Property continues it's surge, it's more of an opportunity to sell the stock than to long it. In this case, 700 lots were unloaded today for a quick fast punt. Earlier on when the price reached 0.06/0.061, not only did it reached a selling zone, but more importantly, it's a point where sellers look to book profits and buyers were less supportive of that price. In the midst of observation, I also copied down some important turning points for a better tomorrow for my LIVE Trading.
The gap up in the min chart was pretty obvious for a sell signal and together with the selling zone, where sellers distribute while retailers buy, those 2 points made it more obvious that this counter should be avoided for a swing trade for now. Whatever it is, profits were made and booked. :)
Ronald K - Market Psychologist - A Stock Market Opportunist
