Friday, July 13, 2018

Hi-P - Superb Breakout

Hi-P, a stock that I was watching closely started to turn into strength these few days. When I saw it, I started to send a Whatsapp message out to all my SOMM members to alert them to watch this counter and true enough, it shot up to a high of 1.33 today with speed and volume. Smart money could have entered on that high volume in the 5 minute chart? Because the volume was too high and hence, I believe I would look to lock in profits rather than buy. As of now, I would stay cautious and not touch this counter for now. The buy/sell Q looks more selling than buying. Congrats all who took actions and made $.

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Update: 13/7/2018, 10:14am

The price for Hi-P dropped 3 pips after my 9:38am post that Hi-P has some profit takings! The high volume was indeed more on the selling side than buying. I am extremely pleased my student made $$ and sold near the near after seeing my analysis and blog post. Congrats!

Ronald K - Market Psychologist - A Stock Market Opportunist