The importance of results and earnings clearly reflects that even though in a down market in STI today, the stock can still outperformed the overall market with buyers buying in heavily at pre market. It's important how analysts project this counter and it's also extremely important what they write inside the report on target prices, outlooks etc..
https://www.businesstimes.com.sg/companies-markets/genting-singapore-net-profit-soars-46-in-q3-as-attractions-business-grows
However upon studying the chart, it was noted that there was a massacre of selling yesterday where it was so bad that the sellers were pressing prices down and whenever buyers comes in it was pressed down even further. See the 5 minute chart, it broke down from the distribution and kept moving lower no matter how attractive the stock was. Was this a flush deliberately for the BBs to buy lower or was it real selling? Nobody knows.
Genting SP then released a good set of results and earnings where the stock then gap up 7.7% earlier this morning where when one reflected back what happened yesterday, it connects the dot. The sell down could be a flush or panic for the BBs to buy more and sell when the stock gap up today. Think about this, how can a stock sold down so much and be able to gap up so tremendously the next day?
Whatever it is, because Genting SP is a casino stocks and it deals with gambling, I am not willing to take the risk on the results because anything can happen. One wrong move and my account will blow up.
Ronald K - Market Psychologist - A Stock Market Opportunist
