PROFIT-TAKING PRESSURE
The market continued its upward trend but showed strong contention as it entered the 1,320 – 1,340 point resistance area. Liquidity increased compared to the previous session, indicating that profit-taking supply increased as the market rose rapidly; however, cash flow is still making efforts to uplift and absorb profit-taking supply.The state of contention will continue in the near future and may cause disturbance among stock groups in the market.
However, with the supportive momentum from cash flow still present, it is expected that the market will gradually advance towards and test the 1,340 point resistance area.
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