Wednesday, May 23, 2018

CityDev - More Sellers Emerging

The sellers in CityDev was definitely in control as the stock continues to sell off. Based on my earlier post, the chart looked bad as the sellers were relentless in their selling. Even after a breakout 3 days ago, the sellers came back and prices were declining.

The Singapore market has hit a supply zone and the market has been selling down non stop. The STI continue to plunge today with more heavy throwing and many banks suffered the sell down too. Let's see how much more selling we need to sustain before any rebound is imminent.

Ronald K - Market Psychologist - A Stock Market Opportunist