Morning Trend | Greenland Tech falls below the warning line, is the risk of a sell-off about to escalate?
Greenland Tech (GTEC.US) stock price plummeted yesterday, directly breaking through the key warning line in the short term. Community traders are discussing: "Has the dumping season arrived early, and is the risk about to escalate?" The main reason for this round of decline is the continuous exit of large funds, with intense long-short battles during the trading session. The 60-day moving average has been completely lost. A long bearish candle spanned the entire day, washing out follow-up funds. Community watchers warn that if there is no volume in today's intraday rebound or if it fails to maintain the $2 integer level, it is highly likely to experience a continued downward adjustment, making a dumping market easy to occur. Data from the leaderboard shows that ultra-short-term speculative funds heavily dumped stocks on that day, while some rational funds attempted to support the bottom but were quickly overwhelmed by selling pressure. Technical analysts believe that if the current weak atmosphere forms inertia, it will lead to the exit of follow-up funds and "knife-edge licking" funds, making it difficult for the market to stabilize quickly. In terms of operations, the focus should be on defense, and one should not casually bottom-fish in a weak market. Only when there is an extreme intraday large order that dumps to a new low with low volume + a V-shaped strong reversal can one continue to wait for a reversal signal. Perhaps there will be a short-term opportunity for a rebound after a sharp decline, but be cautious of trying to "catch a falling knife" and getting wrecked. The risk escalation warning has been sounded, and the market could change face at any time!
Greenland Tech (GTEC.US) saw a sudden plunge in its stock price yesterday, directly breaking through the key warning line in the short term. Community traders are discussing: "Has the dumping season arrived early, and is the risk about to escalate?"
The main reason for this round of decline is the continuous exit of large funds, with intense long-short battles during the trading session. The 60-day moving average has been completely lost. A long bearish candle spanned the entire day, washing out follow-up funds. Community watchers warn that if there is no volume in today's intraday rebound or if it fails to maintain the $2 integer level, there is a high probability of a continued downward adjustment, making a dumping market likely.
Data from the leaderboard shows that ultra-short-term speculative funds aggressively dumped shares on that day, while some rational funds attempted to support the bottom but were quickly overwhelmed by selling pressure. Technical analysts believe that if the current weak atmosphere forms inertia, it will lead to the exit of follow-up funds and "knife-edge licking" capital, making it difficult for the market to stabilize quickly.
In terms of operations, the focus should be on defense, and one should not casually bottom-fish in a weak market. Only when there is an extreme intraday large order that dumps to a new low with low volume + a V-shaped strong reversal can one continue to wait for a reversal signal. Perhaps there will be a short-term opportunity to profit from a rebound after an oversold condition, but one must be cautious of trying to "catch a falling knife" and facing a setback. The risk escalation warning has been sounded, and the market could change face at any time!
