My take: This is the peak. Technically it is a Head n Shoulder pattern in progress. First drop to 0.95 - 1.02 moving sideways for a while. Next drop to 0.75 to sleep n die there forever.
Because: Tech stocks US Nasdaq bounce is not sustainable. Its a bear trap bounce. Evident from its chart.
This is 2022 not 2020. History will not repeat. For example, Greatec dropped from 7.50 to 3.50 but only bounced 50 cents.
Grandmaster says if your cost at 1.08 n market at 1.20, you do not set a cut loss. As price coming down, you take your smaller profit before turning to a loss.
If after you buy, price is ding dong ding dong around yr cost, set a cut loss point at 5 - 7% below yr cost. At 1.08 cost, cut loss point at 1.00 - 1.03. Once hit, dump it no matter what. Never hesitate. It is to prevent an unexpected disaster.
Trade no more than 30% of yr available cash. Because every 10 traders, 9 lose money. Yr chances of winning is only 10% over time.
Im not into sfp. Just visiting. I hv also out from topglove with 4.7% loss. Now i goyang kaki with 100% cash.
Simple indicator if u Don wanna see technical or fundamental 1)no one care commenting ( can start to collect ) 2) people start commenting(last call to buy) 3) when dreams of retiring early, super cars, to the moon dream popping (time to run) 4) comments start slowing down ( last call to protect profit) 5) when comments that bashing this stock, no use stock , no use this no use that (it's time to buy again)
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....
rr88
6,532 posts
Posted by rr88 > 2022-08-17 12:42 | Report Abuse
Pang.
My take: This is the peak. Technically it is a Head n Shoulder pattern in progress. First drop to 0.95 - 1.02 moving sideways for a while. Next drop to 0.75 to sleep n die there forever.
Because: Tech stocks US Nasdaq bounce is not sustainable. Its a bear trap bounce. Evident from its chart.
This is 2022 not 2020. History will not repeat. For example, Greatec dropped from 7.50 to 3.50 but only bounced 50 cents.