I was watching an interesting stock called IFAST. The stock had plummet since May 26, 2015 and ever since the liquidity has phased out and it was getting more difficult to lock up more shares. Studying the chart in a more careful perspective, the stock now seemed to looks bullish, but I expect just a little more selling first before more upside can be materialized.
In the daily chart, there was a high volume breakout but for those who love Technical Analysis and love to chase after breakouts, the BBs normally would do a contra squeeze first before a real upside can be seen. In my trading plan, I rarely chase after breakouts because it's a sure way to die and hence for this stock to move higher, I need that deadly contra squeeze until I see force selling. By then, it shall be a good time to enter at a low price at the right time since most retailers have liquidated.
If you love short term trading on Singapore Stocks, do join me next Tuesday as I will be sharing and revealing more on Contra squeeze and how to spot the traits. Click and regsiter below.
Ronald K - Market Psychologist - A Stock Market Opportunist
