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JL
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Posting #1: Tue Sep 11th, 2007 03:44 |
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Bot this on 10/09/2007 at 1.92..
This counter b/o from 1.89 and shoot to 2.21 ... however, dropped back to 1.92 within 2 days. It closed slightly below the trend line and with a doji. I think the support shld be ard 1.88- 1.90..
CLP 1.88 .
Attachment: Sapcres.GIF (Downloaded 38 times) Last edited on Tue Sep 11th, 2007 04:01 by JL
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Moolah
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Posting #2: Tue Sep 11th, 2007 05:34 |
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JL,
Here is Sapcres trading data for the past recent days..
Date Open High Low Close Change Volume
3-Sep-07 1.88 1.89 1.83 1.86 0.030 103,472
4-Sep-07 1.86 1.88 1.83 1.85 -0.010 74,426
5-Sep-07 1.87 2.02 1.85 2.01 0.160 357,401
6-Sep-07 1.98 2.14 1.98 2.10 0.090 320,084
7-Sep-07 2.10 2.10 1.99 1.99 -0.110 116,770
10-Sep-07 1.94 1.96 1.88 1.92 -0.070 142,138 |
Did you not consider the heavier volume done on 5th and 6th of Sept?
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JL
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Posting #3: Tue Sep 11th, 2007 05:37 |
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| Meaning this counter is in a distribution stage kah ??
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Moolah
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Posting #4: Tue Sep 11th, 2007 05:41 |
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JL,
I have no idea... but ... perhaps... it might be better if you had waited for another day? What say you? Me just guessing hor.
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JL
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Posting #5: Tue Sep 11th, 2007 05:43 |
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Moo moo,
Yeah. I agree with u.
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Moolah
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Posting #6: Wed Sep 12th, 2007 03:39 |
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JL,
the above picture is what i saw..
how?
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JL
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Posting #7: Wed Sep 12th, 2007 03:45 |
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Dearest moo moo,
I think i m going to sell this one.
Reason :-
1) Closing price drop below trendline - although rebound today and currently the price is ard 1.91 the time i post this..
2) ADX showing weakness in the uptrend
3) Looks like MACD going to cross EMA9 from top soon..
So, all indicators show that this counter has lost its uptrend. May be it is taking a rest, i dont know.
But when so many uncertainty ard, shld i just sell and stay sideline for the time being.
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Moolah
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Posting #8: Wed Sep 12th, 2007 03:52 |
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JL,
What was your original reasoning to enter the stock? And what was you expecting the stock to do?
rgds
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JL
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Posting #9: Wed Sep 12th, 2007 04:05 |
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Moo moo,
My entry was based on the reason that this counter would continue its uptrend after the drop. However all the indicator show me this is not going to happen soon.
Phantom Rules 1 : Sell when market does not prove u correct.
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Moolah
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Posting #10: Wed Sep 12th, 2007 04:16 |
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LOL!!!
JL... i believe you are way too caught up with Phantom here.
Anyway.. correct me if I am wrong here but it would appear to me that you had made an entry at or near the support level based on ur initial support estimation level of 1.88-1.90.
Now the price had stalled yesterday. Possible reasoning? The usual t+ factors and also a rather lacklusture market yesterday. Right?
So what you have now.. is rather a simple... basic stalling prices. And you could also reason out that the prices has NOT rebounded as per your expectations. Right?
But...
what was the time frame for this rebound to happen?
Were you expectating a swift rebound? And what if this rebound takes a slighty longer to occur? Are you not willing to wait it out? Or do you consider being in a wrong position to wait?
rgds
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