This is one great phenomenon to observe. A classic sell-down.
While it was a darling stock yesterday, today from the word, 'go', it slid down to trade at the mid RM1.70 level to close unchanged at the lunch time to close at RM1.80.
From 4 pm, the sellers emerged and in droves sold down YTL Corp to RM1.73 without any let-up.
From then on, it was anyone's game with gravity taking charge.
Close to 15 million shares were done at RM1.73.
I do not know whether it was force selling or it is just weak holders dumping the stock ahead of the week-end.
So, it looks like the stage is set for YTL Corp to attempt once more to move up and beyond RM1.80.
That will be next week's action, I suppose.
March 16, 2012
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