ChinaMinZhong and Gen SP
The last post tonight. Do take note of Indoagri as well, respectable result 2Q result and nice TA.
While I cited a no demand Bar for Chinaminzhong after its buying climax which did happened. But, over the last 5 days,we witness CMZ going into hibernation modewith low volume with thin spread...(arguably either accumulation/no demand/ combination of both)
CMZ volume exploded today, trending into familiar territories of the past. 70cents again!
In my opinion, SM has put in a lot of effort today and we might see a continuation of this effort again tomorrow likely. As this counter has previously free fall 80+ cents to 60+ cents in just a couple of days, we might potentially see ChinaMinZhong challenging the 80 cents region very soon with strong BB/SM play.
Today could potentially be he first day of its rally to 80 cents.
Next, we have Genting SP. Below is its chart.
TYPO : Spread seems covered should be "GAP" seems covered instead.
Genting SP volume wasn't very convincing today. I will prefer to be more cautious. However, do note that the gap was covered.
I will prefer to see Gen's strength in a down day. Hopefully, we can see lesser volume -> lesser selling and closing in the Gap region will be ideal.
Above is not a buy/sell recommendation.
While I cited a no demand Bar for Chinaminzhong after its buying climax which did happened. But, over the last 5 days,we witness CMZ going into hibernation modewith low volume with thin spread...(arguably either accumulation/no demand/ combination of both)
CMZ volume exploded today, trending into familiar territories of the past. 70cents again!
In my opinion, SM has put in a lot of effort today and we might see a continuation of this effort again tomorrow likely. As this counter has previously free fall 80+ cents to 60+ cents in just a couple of days, we might potentially see ChinaMinZhong challenging the 80 cents region very soon with strong BB/SM play.
Today could potentially be he first day of its rally to 80 cents.
Next, we have Genting SP. Below is its chart.
TYPO : Spread seems covered should be "GAP" seems covered instead.
Genting SP volume wasn't very convincing today. I will prefer to be more cautious. However, do note that the gap was covered.
I will prefer to see Gen's strength in a down day. Hopefully, we can see lesser volume -> lesser selling and closing in the Gap region will be ideal.
Above is not a buy/sell recommendation.
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ReplyDeleteThe Straits Times Index (STI) ended 30.5 points or 1.07% higher to 2872.44, taking the year-to-date performance to -14.64%. Now, what you think about GAP.
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