Unifiber

In my last entry on this counter, I was in position at SGD0.07 with objective of possible 0.15 base on a flag move. I was hopeful on this stock. That is until Firday.

While monitoring the stock, I check on the Time and Sales record. There are many small players in buying up this stock. Many were as high as 1,000,000 units. However, a few trades un-nerved me. These stocks are distributing at volume of 20,000,000 to 40,000,000. The number of sellers are not many with only 1 or 2 per day, but it seems like someone know something and is dumping the stocks.

I could be wrong on this and this is only an assumption base on my own opinion. It is enough to ask for my exit, which I did.

Is it a wise choice? I am not sure, but the stock did touch a new low of 0.06 today with even higher volume. It is possible that I have error in reading my chart. The most important thing is that I have to admit that I can be wrong. Afterall, the charts read both ways.