Xinquan

Following on CIMB report on 9 Feb, Xinquan has shoot up yesterday with a nice shooting star. As trader, you cannot solely rely on day chart for light stock like this. Light stock means stock move fast. Volume on 30 Jan is 2.1 mil with a morobozu vs 14 Feb is 1.6 mil with a shooting star. it seems that 14 Feb is a sell day but less significant than 30 Jan as a buy day. Hence you need hour below to dissect further.

Point A - 30 Jan total volume 2.1 mil with up-moved candle

Point B - 14 Feb - single hour with 1.1 mil unit traded - it is a significant sign of weakness from the top as the pro has successfully offloaded huge holding at high price. naturally, without support from the pro, market will retreat.

Wave will emerge only until the Pro take another position again. Stay away for now.