March 16, 2012

Selling Down YTL Corp

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.