Sembcorp marine recent got upgraded to overweight I believe. I am not sure what's the contents of the upgrade all about but the stock has been in the Top Volume for quite a number of times. When I first witnessed the stock, it was trading at 1.60/1.61 near the demand zone where I almost bought it but did not because there were better counters. 2 days after my observation and seeing how it sift through the Top Volume, it some what validated my observation where it was obvious that some BBs were playing it. The price had been rising in the Top Volume where the buyers looked quite healthy while the sellers retreated.
I am not sure why after the upgrade, the stock started to rise as there wasn't any bad news. It might be the BBs wants to accumulate more so the price has to come down first? Looking at the chart, I am want to see more obvious turning points before taking another trade on this counter. It's in my watchlist now since there were some form of buying slowly for the past few days. Watching it.
Ronald K -
Market Psychologist -
A Stock Market Opportunist
