Share prices usually respond positively to share buybacks. One of the most common reasons for companies to announce a share buyback programme is when management considers that the share price of the company is undervalued on the open market.
However, the press down in a company’s share prices is usually temporary and could be due to lower-than-expected earnings, or cyclical effects, that will be corrected over a short period of time.
Overall, market will response positively. Since PJD is undervalue stock, just hold and we will be rewarded soon..
Posted by matrixcool > May 18, 2014 07:33 PM | Report Abuse
Bravo—Everyone is different when come to set Trailing Stop, some use indicators like SMA,stochastic etc to set their Trailing Stop.
I would like to share with you my method of setting Trailing Stops and some other traders might not agree with my way.
PJDWC—Last Friday formed a Hammer at Top (A candlestick warning, but need confirmation), I will be watching whether it can break $0.82 or not to test its previous high of $0.83 and beyond. Now you look at next meaningful supports, immediate support is at $0.765, next support is at $0.735. So you need to ask yourself how much you are willing to give back if you cannot sell say at $0.82/$0.83? The Greeds and Fear factors come in. You can also draw an uptrend line joining the lows from 3/32014,17/03/2014,29/04/2014 and set your Trailing Stop if this uptrend line is violated. ( As of today it read $0.75).
That says it actually breaks above $0.83 and into uncharted territory, then you may want to set your Trailing Stop just below $0.82 and if it keeps going up you keep adjusting upwards.
The decision is yours, I can only share my method with you.
Hope this helps.
Happy Trading..
Hammer = A hammer occurs after a security has been declining, possibly suggesting the market is attempting to determine a bottom.
The signal does not mean bullish investors have taken full control of a security, it simply indicates that the bulls are strengthening.
A pattern on bar charts resembling a cup with a handle. The cup is in the shape of a "U" and the handle has a slight downward drift. The right-hand side of the pattern has low trading volume. It can be as short as seven weeks and as long as 65 weeks.
As the stock comes up to test the old highs(now PJD Wc test the previous new high of 0.83), the stock will incur selling pressure by the people who bought at or near the old high. This selling pressure will make the stock price trade sideways (strong support at 0.80 as what Mr. Ooi mentioned) with a tendency towards a downtrend for four days to four weeks... then it takes off (Mr. Ooi believe the price is very bullish and continue to break new high.)
Thank you Mr. Ooi for the explanation,fully invested in PJD wc!
Using the line chart, the price had crossed the Pivot line of a Cup And Handle Chart. I repeat "had crossed the Pivot line of a Cup And Handle chart" ... There should not be any correction, the only way is to continue break new high and heading North. I am very bullish on the technical chart of PJDev-WC. My SharesXPert probability to win is 4 win 0 loss. It means in last 3 months, you buy this stock, you should win 4 times. No chance to lose money on this stock. Probability to win is 100%. Thank you.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
tpchuayap
855 posts
Posted by tpchuayap > 2014-05-14 08:52 | Report Abuse
go