Friday, July 6, 2018

Propnex - Property Stocks Battered Down

Propnex, a stock which I blogged and shared my bearish analysis yesterday gap down -13.0% today due to some property cooling measures announced yesterday. Click below to read. 

Together with many stocks, because of this bad news, many property stocks got battered down bad and many other blue chips were also affected like the banks. The Top Volume was mainly selling and the market looks really bad with STI plunging -70 points. The market is going through some rough and tough times and it looked like many are selling heavily. It's not a good time to tough stocks on the long side for now and with Propnex lacked of buyers, it was good enough to make forecast and predictions on not to touch property related counters yesterday even though they surged and ran like a fake breakout.

Ronald K - Market Psychologist - A Stock Market Opportunist