Hi-P - 2nd Peak Weakness

Hi-P had some collections yesterday. The stock was strong and it was collecting in the 5 minute chart. The market had some weakness for the whole day until suddenly, there was a shift of momentum in the banks and some penny stocks which suddenly brought AEM to move and followed by Hi-P. I witnessed the moment and gave a whatsapp alert to all my students to watch out for Hi-P. As the buy/sell Q flipped and as the stock gained some strength, I saw a flipped followed by a powerful bite and slowly the stock just ran up with the overall market. AEM moved a lot more but Hi-P was following at the back.

Today it gap up higher and touched a small 2nd peak where I thought it was time to take profits. True enough, there was some hidden selling and the stock went back all the way down to 1.32 earlier. The Top 30 Volume has flashed Hi-P but because the overall market has some simmering actions, I believe Hi-P will follow too and hence, taking profits $$ is never wrong. Congrats to all who made $$.

Ronald K - Market Psychologist - A Stock Market Opportunist