The above situation happen on that said share hit the two time on same higher price but it couldn't broke it and registered more higher. Usually I would classified it as signal of adjustment. Sometime the said shares not necessary hit the same price, it only closed to it at second time.
Like UEMland, recently after an adjustment on it, after that was hit 1.52 and past few days was touched as low as 1.36, today had reached 1.48. So, I also classified it double high. If tomorrow this counter hit above 1.52, the signal of buy in is confirm. Otherwise, This share would not going up and chances of hit down below 1.28 become higher.
Due to the above signal happen on most of the high volume done stocks. I have no buying interest on KLSE equity market. Friendly speaking, today market give me a lot of data. So, i had recorded it in my diary for future plan.
I am not confident on oversea market. US DJ market still weak and until today the chance of heavy adjustment higher than last month. I am prefer stay away.
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