Cambodian Stock Market Today — No End to the Selling Power Yet Looking at the October 6 numbers

Cambodian Stock Market Today — No End to the Selling Power Yet
Looking at the October 6 numbers, what caught my attention was not just the CSX down -2.34% to 582.20 points, but the entire board of stocks was in the red, with no stocks gaining at all. This suggests that the market psychology has shifted from selling only stocks that have surged to Broad-based Risk Reduction.

But I still wouldn’t call it Panic or Capitulation yet, because the total volume of 1.27 million shares hasn’t exploded as much as the day before. The current pattern is closer to Slow Bleed — buyers are pulling back and sellers are willing to lower prices, rather than rushing to escape the market.
The most watched stock is still ABC, down from 9,680 to 9,400 riels, with 640,735 shares traded, worth nearly 6 billion riels, or about 80% of the total trading volume/cash in the entire market. This means that CSX is still being strongly pushed by ABC psychology, but ABC’s volume has not clearly accelerated compared to the previous day. At least this suggests that the supply selling force is still there, but has not yet seen an acceleration in the form of panic selling.
PPSP also fell to 1,630 riels, but the volume is still above 415,000 shares. I will also monitor this stock because it was the stock that received rotation cash from ABC. If PPSP starts to build a price base first, it could be the first sign that Risk Appetite is returning.
The point that I am still not in a hurry to tell you to buy at the bottom is that the Demand (buying power) has not yet clearly appeared, especially ABC after falling below 10,000 riels, and now the market is doing Downward Price Discovery (searching for a suitable low price level) to see what price can really attract buyers back.
And after this picture, the latest data on CSX that I checked found that the index continued to fall to 579.36 points, ABC 9,360 riels and PPSP 1,580 riels, indicating that the selling force is still there, not recovering immediately.

So I see the market now that
FOMO is over and Profit Taking has passed, now entering Fear & Price Discovery
What I want to see after this is not a strong rally in one day, but the price stops making a new Low (low point), accompanied by a gradual decrease in selling volume. These are signs that Supply is starting to run out and the market is creating a new Base price.
For ABC in particular, I would still choose to wait for the selling pressure to subside rather than rushing to catch a falling knife. But for long-term investors, the declining price is making the valuation more attractive every day — which is a different story than saying that the price has already reached the bottom.

——ABC — Technically, there are signs of buying, but it has not yet returned to the upside.
What is most interesting is that ABC today was sold down to 9,120 riel, and then there was buying power to pull it back to close at 9,400 riel, forming a clear Long Lower Wick (like a long lower candle shadow). This means that when the price drops deep, there is Demand (buying power) coming in to absorb Supply (selling power).

After that, the price did not retest the 9,120 riel area, but started to form a base around 9,350–9,450 riel, and DEMA 9 is around 9,398 riel, which is very close to the current price, so we are starting to see Intraday Stabilization or selling pressure starting to slow down.
However, I am not yet calling it a Trend Reversal, because the main structure is still Lower High / Lower Low, and the latest official closing data of CSX is at 9,360 riel (-3.31%), while the CSX Index closed at 579.36 points.
The points that I will continue to monitor are
9,120–9,300 riel is the Demand Zone (buying power zone)
The upper 9,500 riel is the first barrier, if it can be broken, then we can monitor 9,680–9,750 riel and 10,000 riel in order.
If it falls below 9,120 riel with high volume, the market picture will return to a clear negative as it means that the demand that was previously bought in this area has been eaten up.
However, if 9,120 riel is not destroyed + the price starts to settle at 9,400–9,500 KHR + the volume on the selling side decreases, I would start to give weight to ABC entering Accumulation / Base Building rather than a Falling Knife.
Overall, today is starting to see buyers, but it is too early to declare that the Bottom has already occurred — 9,120 riel is a point of buying power, while 9,500 riel is a point of recovery.