Thursday, July 28, 2016

Wong Fong Ind - IPO 23 Cents, Closing 30.5 Cents

Wong Fond Ind really caught my attention off guard as first, I did not check when it was the official trading day and when it started traded today, I got caught up with some early morning meetings. But well, my direction for the stock was still correct. So when I managed to buy some time and scanned through the Top Volume, I observed the bearishness about the stock blogged about it LIVE on my blog. Although it did not hit the selling zone as predicted, the stock closed really weak at 0.305 cents.

The IPO was 23 cents and the high was 0.43 cents before suffering a sell down to 0.305 cents @ closing. The recent IPOs are really high profile with many of them IPOing at a low prices and when the official trading day starts, the stock usually opens really high and followed by a heavy sell down on the first day. I am wondering the next IPO soon. I hope I am able to get at IPO price because that's how fast $ is made.

Ronald K - Market Psychologist - A Stock Market Opportunist