The market declined in today's session, closing lower by 25.20 points or 0.60% at 4197.92, which is obviously caused by profit taking by bargain hunters from the recent drop. The MACD is now about to cross back up above the zero line suggesting the resumption of the uptrend. We might make another higher high before the year ends.
AP continued to decline further in today's session, losing 4% and closing at 33.60 with a total of 6.25% within 3 days from its recent high. Today, it generated a buy signal with a confirmation tomorrow. However, momentum is definitely starting to weaken so I would be very alert in watching danger signals.
I was out the entire session so I didn't see what really happened in today's trading so I simply checked the records from COL instead. Looks like DAIWA and ATR are still buying although in lesser volume while the previous buyers(from the lower range) UBS, DEUTSCHE, PEP, WEALTH and MACQUARIE are all selling.
Weekly chart is still looking normal though so intermediate to long term holders need not fret.
AGI did a fake breakout from its ascending triangle pattern with a high of 13.12. A buy signal should be generated within two days but don't try to get ahead of the signal. Better wait and confirm it before acting on it.
DMC is looking to crossing back up above the zero line(MACD) suggesting the resumption of its uptrend and it also broke above its short term downtrend line although it appears to be relatively toppish already so it might consolidate for the mean time.
AP is up by 24.13% within 31 days.
