YTLPower is in selling down. The above chart clearly shown a downtrend and yesterday, July 29th 2011, it dived below RM2 to close at 1.96(touched 1.95) with huge volumes. This extreme selling giving us an opportunity to accumulate.

Last year Nov 9th, YTLPower done a stun never seen in my short 3-trading years. It shot from 2.35 to 2.76(closed at 2.60) in a day with huge volume. This is what I called 'climax buying'. That is the day anyone holding her, who do monitor markets should SELL. Extreme buying without solid and valid reasons(change in fundamentals) is a SELL to me. I dont care what the other technical analysts will say as I am a trader. If it still shoot high, never mind. I have taken my profits.

On few occasions, YTLPower was in sell-down(high volumes seen too) but any short-term technical rebounds were resisted and the down trending continues.

Yesterday was an interesting day for YTLPower as it went down below RM2 psychological level with huge selling volumes. Who are the sellers? Why the selldown on this so-called good stock? Will it ever recover to RM2 or high or will it continues to move lower from here and back to 1.80 level? Many are holding to this stock, some bought her for dividend etc etc.

So, it is in everyone's mind what is going on and what is next?

I am more interested to see this as a waterfall-watch, upgraded from merely a stock-watch which I placed weeks ago. Yes, I was watching for RM2. The rebound to 2.22 from 2.13 was short-lived. Now is the time to catch a knife? Ouch.

Buy at your own risk.

TEH