Why you should not chase high price ?Those who bought at 0.565 to 0.625 are sucking thumb and sore about their paper losses (if they are still holding) and will be awaiting for it to go back up and get out on first sign of bullishness.
There are many stocks currently in this stage (pink circle) and I am being more selective now in buying stocks at this juncture.
1J5 trade ideas
Hyphens Pharma-bigger trend in the making? (warning:speculative)Let me qualify myself first. This is a penny stock and highly volatile, hence do not take this trade if you cannot take the volatility.
This stock has the hall mark for a stock in the beginnings of a bullish trend: a base formation that lasted 2 years and now finally breaking above the 0.305 long term resistence strongly on 28 May, hit high @ 0.38 before violently giving way to profit taking. However during the violent fall, it stopped short @ 0.305.A break out of base formation and then a retest of the break out level - classic opportunity to enter near this level with initial stop just below 0.305 (we are talking about a 9-10% Stop loss when entered at this level hence be mindful and do not take undue risk with oversized positions). Volume is still not as high as I would like hence possibility of failure is there. Play it safe and not for the faint hearted!
Initial profit @ 0.39 (retest of recent hi) with potential to go higher eventually (trailing stops). Let's see if it works out
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
