Strange stock charts! / Wrong way to support the stock market?
According to Tejarat News, since the beginning of February, the overall stock index has been positive with the support of large shares. The growth of the overall index continued until Tuesday last week, but in the end, the support did not face the selling pressure, and the overall index ended its work with a decline.
Borzoo Haghshenas, a stock market expert, told Tejaratnews: “Unfortunately, the stock market as a whole has been reduced to a few specific shares by the trustees, and they have recently found a support model and say, ‘We are closing the share floor’!” We see strange things on the chart. I have not seen such candles on the chart in the last 10 years. The total resources that the Stabilization Fund has also go for a few specific shares.
He continued: “For a year now, we have summarized the entire market in a few shares and the rest of the shares are being forgotten.” A total of 700 shares are released and only a few specific shares are supported, which will hit the market in the long run. The type of support and ordering is wrong in some specific stocks. 90% of small shares of the market were corrected. Well, the index should go down. The index should show the current state of the market. Just wanting to show the situation well by showing it positively raises other issues in the minds of market participants.
Haghshenas said: “Our suggestion is that the stock exchange organization open the hands of the actors in small shares with their blindfolds so that they can raise the shares.” In 1997, the market returned with the same strategy. It’s been a year now that we only got a few big shares. The market is unbalanced in large and small shares. There are good reports in small shares as well, and P has reached the historic floor to E. But we left small shares. I am not optimistic about the stock market with this model of support next week, and I hope we will not repeat the way we went several times and saw that it is wrong.
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