Saturday, May 18, 2019

DBS - Heavy Pouring

Heavy selling and heavy pouring in the market yesterday. Sometimes after a XD, a stock would recover back to the XD price depending on market condition while other times it just kept dropping like in the case of DBS yesterday.

After XD, the stock kept selling profusely non stop. I seldom see DBS dropped 2.6% a day but it just did so yesterday. The market was really weak and the sellers kept coming. I studied the chart and search for clues and can only deduce that the gap down from top and the lack of strong cob which buyers weren't interested in the current level yet. The Top 30 Volume was equally lackluster as many stocks started to give way and tank. I think the market is paving way for another rebound to come. Get ready for a good swing trade when it finally touches the bottom.

Ronald K - Market Psychologist - A Stock Market Opportunist