We notice there is a clear smart money campaign happened from accumulation (stage 1) followed by mark-up (stage 2) and now probably in distribution (stage 3) based on Guan Chong BHD weekly chart. With the evidence of Sign of Strength as iVSA chart above, smart money took more than a year and a half, from Jan 2016 to Jun 2017, to accumulate. Guan Chong BHD broke through the resistance level in June 2017 with volume. Smart money continue to mark-up the price for more than 110% in just 4 months after the breakout. The actions by smart money have been spotted by the Green Arrow during the mark-up stage.
Guan Chong BHD reached maximum high and we can see great profit taking have take place with the Red Arrow in Nov 2017. Price plunges slightly and now moving sideways since the Red Arrow appeared. We prefer to wait for more Sign of Strength to ensure the smart money continue to participate on the uptrend.
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