Monday, March 19, 2018

Cosco - The Last Minute Sellers

Cosco, a bearish stock which I shared last Thursday started to show more bearish signs of breaking down as of now, 30 minutes before market closing. Click the below link to see how I spot the breakdown before it happened now.

See the 5 minute chart attached, the stock started to break down after a good powerful rise last Thursday. At 9:20am when I see the hidden selling at the peak when the stock was 0.53/0.535, I knew it was time to sell this stock instead of chasing at higher price to avoid missing opportunities on the long side. I saw humongous amount of retailers chasing the day before on March 14th and a little more on March 15th which gave me an indication of the stock breaking down now.

At 0.49/0.495, there is a little more downside for contra squeeze first before any up move can be materialized. To add to the sell down, STI is also tumbling together with the overall market as highlighted in my private forum at @ 8:47am in the morning BEFORE market. I am glad some of my students started shorted this stock upon viewing my bearish post last week. Congrats!

Update: 19/3/2018, 5:07pm

Cosco closed at super day low at 0.48! My student who shorted 500 lots at 0.53 is in huge $ now. Congrats, really happy!

Ronald K - Market Psychologist - A Stock Market Opportunist