SPH:SGX: Accumulation Zone in Progress
Stock price goes through a life cycle of Accumulation, Mark Up, Distribution and Mark Down. In the most basic structure, they are simply different phases of transitions and imbalance of supply and demand. At Accumulation phase, price is transiting from Oversupply to price balance to Demand dominating. Signs of transitions were carefully labelled by Mr Richard Wyckoff about 100 years ago and Wow! continues to apply on current markets.
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Remember, in the markets, you are simply trading Demand and Supply, nothing else.