Wednesday, January 4, 2017

Jumbo - Soaring Prices, Jump with the BBs

Today was just very surprising, many stocks ran and most stocks have prices jumped and soared higher like Jumbo, Alliance Minerals, Cogent, etc. The market suddenly turned bullish which was something I did not expect but well, I managed to see some jumping, vibrant activities in Jumbo as I blogged about this morning.

The good news for Jumbo was released yesterday and prices started to suffer some mini selling in the morning. I knew for the stock to trend higher, I would need to study the holistic view in the daily chart again one more time to check if the stock still has strength to drive further up north or not. Studying the daily revealed some absorption, flushes and a temporary selling zone. I knew the Jumbo would follow the bullish market today and move in tandem with the market. However because it's reaching the selling zone, I decided to give a Whatsapp alert to lock in profits for those my SOMM members who swung this counter last week.

I would have to see the buy/sell Q tomorrow to decide the next course of action. Congrats everyone who longed Jumbo. :)

Eventbrite - A Short Term Trading Event. Register Now

Ronald K - Market Psychologist - A Stock Market Opportunist