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EVERGRN - Trading Stock

DividendGuy67
Publish date: Wed, 03 Jul 2024, 12:10 AM

EVERGRN is a trading stock for me (i.e. trade small, not a "core" dividend stock).  I previously bought EVERGRN at around 30 sen.

My partial GTC Sell Order at 39.5 sen was filled today, to lower my Average Cost down to 24 sen.  This is now generally regarded as a safe position.

Here's the (obvious) next 3 lines I'm looking at next.

As the paper gains are quite significant already, there's no need to rush to close, given the next 3 obvious targets are:

- 45 sen (38.2% Fibonacci)

- 52 sen (50% retracement)

- 58.5 sen (61.8% Fibonacci).

My plan is to progressively sell as price rise up near resistance zones.   My position is still sizeable, to have a few sell bullets - so, if all are taken out, odds are I will still retain something even when it hits above 58.5 sen - the potential confluence between the resistance downtrend line with Fibonacci resistance.

My gut says majority odds after hitting the top of the downtrend line, it will fall back down i.e. retrace.   

Let's see how price action is over the next few weeks and months.





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