Seems like the correction is not over. When I saw this stock on 30 Apr (click to enlarge), it looks like it has neared it’s strong support at $1.30. In addition, the k-line has come down which suggest the risk is lower. The stop loss is close, so even if the stock turns down further, I will not crash and burn. The stock does not have a history of wild swings and hence, I also do not expect it to skyrocket too. It should be a slow and steady one. However, the panic has not subsided, so this stock is also affected by the general market. This is a good selldown, means that the more people are shaken out of the market, the better for us to buy cheap. The bull run is still intact.
Bought 7,000 shares at $1.34 on 30 Apr 10.
Sold 7,000 shares at $1.27 on 7 May 10.
Commission = S$50
Loss = -S$540
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