Today will be an indicator whether yesterday's drop was either a pullback or a change in trend. The price is still above ema20, which is above ema50, which is also above ema200. It's still trending but anything can happen in our weak market.
All the best and remember, plan your trade and trade your plan.
Yesterday's drop occured with more or less the same volume of the drop before that. So that indicates that yesterday's price drop was only a pullback, hence why I still hold my shares.
Today's price hike happened with twice of yersterday's volume, so we can say that the price hike is supported by volume, which means YBS is still trending.
Externak factors such as an ATH of 15,000 new daily Covid cases and the opening of parliament next Monday might have caused bad sentiments across the board and this includes YBS.
My comments on YBS's chart:
1. Today's volume exceeds yesterday's by 4 million.
2. Despite exceeding yesterday's volume by 4 million, YBS only dropped 2.5sen compared to yesterday where it gained 6 sen.
3. This indicates that despite immense selling pressure, many shareholders are still holding on to their shares.
4. Today's closing price of 0.49 is to date the highest low for YBS for the past 15 years.
5. The price is still way above ema20, ema50 and ema200 for both daily and weekly chart.
omega: I've made quite a lot from the stock market since the pandemic started last year but the fickleness due to political unrests has given me unwarranted headaches ever since.
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greencode
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Posted by greencode > 2021-07-21 15:05 | Report Abuse
As expected