CMT (Southeast Asia Cement Holdings, Inc.) After the voluntary trading suspension we saw a sell off accompanied with a big volume. We also noticed that prior to that we is a red candlestick forming a Hanging Man. One look at it we could see that it has been confirmed by the large red candlestick thereafter but why it go up after that? One reason maybe is because it is coming from the suspension. In between the Hanging Man and the large red candlestick is the 2 days trading suspension so I would say it affects the supposed continuity of the sentiment level. Last Friday’s candlestick is again a Hanging Man. If we take the one week time frame we can’t draw a conclusion as what the trend is but if we look a month ago we can see that it is in an upward trend. This may lead us to think that if this Hanging Man will be confirmed, this might now go down.
Caveat as always!