SSS 3.92% 4.9¢ sam's seafood holdings limited

believers or not, page-12

  1. 4,409 Posts.
    Rod still a possibility I see the rally wasnt sustained, end of day traders saw it fit to close the stock down.

    Bear day yesterday confirmed by lower prices today, I would say some buyers got caught in what is commonly known as a bull trap today.

    They havent cottoned on that sentiment has changed; bear day followed by an anchor candle, eg opened lower, attempted to trade higher but closed down under prior days low with a small body.

    Someone mentioned yesterday re the decreasing volume and it is this that will bring the price down. Less buyers leads to oversupply and price falls down.

    This does not mean much for the long term investor as long as they are convinced that the fundamentals are sound. However as the traders / day traders fade so will the price.

    Of course then comes a place being viewed as oversold and in come the buyers once again, keen to get at bargain prices. Up over 150% is just too fast and requires testing, bring it on Monday
 
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