Blumont has fallen 1.5cts to 8.2cts, Asiasons to 11.2cts and LionGold to 15.8cts. I think those stuck are now realising that the game is over. I will not be surprised that these shares move much lower in the months ahead. Pity all those retail investors who are caught in this high stakes game. For me, I rather remain a spectator.
When elephants fight, it is the grass that suffers.
Strictly based on TA, the 3 charts of Asiasons, Blumont & LionGold have broken their pivotal points.
A downside breakout from the neckline support should be followed-up with share price racing to the bottom at accelerated speed.
Unlike SGX's "waterfall decline", SMRT's chart pattern is known as "Stair-Step Decline", these are bearish longterm downtrend chart patterns.
Characteristics of "Stair-Step Decline" chart pattern 1. Long black marubozu drops like bird shit, non-stop. 2. The share price moves LH LL, it's very easy to recognize on the chart. 3. The BBs always distribute the shares with extremely high volume. 4. High probabilty of rights issue and/or placements of shares at much lower price than the prevailing market price.