Dyna-Mac

Insiders probably pushes the shares up before its shares placement at 50 cents to get maximum value of its shares placement, which was at 50 cents.

Looking at Dyna-mac today. Ever since its placement shares came out at 50 cents, Dyna-mac has been under immense selling pressure since then.

Last Friday, 10/19, we see Dyna-mac falling close to its support level at 45cents with huge volume. Today, we seen Dyna-Mac closing back up again, this time round with lesser volume. The relatively lesser volume could potentially indicates lesser selling pressure and the stopping volume last Friday could indicates absorption from the professionals.


Dynamac 3 years chart


Last Friday, 10/19, we see Dyna-mac falling close to its support level at 45cents with huge volume. Today, we seen Dyna-Mac closing back up again, this time round with lesser volume. The relatively lesser volume could potentially indicates lesser selling pressure and the stopping volume last Friday could indicates absorption from the professionals.

Future : Look out for a "Test" Bar

Update on 30 Oct : Very weak market at the moment. Very hard to go long now. With big brother kepcorp facing massive selling pressure as well, things are not looking rosy. Chart wise, still looking for a test bar.

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