Tuesday, April 24, 2018

Singapore Top Volume Stocks - Supply Range




The STI hits the supply area and the market after last week's 2 day +100 points rebound started to give way and fall back. Normally when the market or a stock hits a supply zone, if it's still bullish, it would take quite some time before it absorbed all the sellers and start moving again. However if it starts to experience profit taking, the market would then have a serious problem. As of now, the market looks like it's absorbing sellers more than profit taking but it's pretty choppy.





Study the STI chart and see the Top Volume stocks, there are moving in tandem. The market looks weak but some stocks in the top volume were dipping and then recovering. This is a trait of absorbing but of course it's still early to say and hence it pays prudence to watch how the market plays out first.

Asian Healthcare is in the Top Volume for the first time since IPO last week. The stock experienced some strong flushing and recovered.

Ronald K - Market Psychologist - A Stock Market Opportunist