Friday, August 25, 2017

Cityneon - A Bullish Whatsapp Alert

I have to admit I made a grief mistake of giving out an untimely Whatsapp alert on Cityneon without knowing that there was a good news on that day on Aug 15th. As I don't watch the news but only the chart, I was caught off guard.

From there on, Cityneon had been tumbling down all the way from Aug 15th from 0.96 to a low of 0.915. From the buy/sell Q, I know the support is around 0.90 but still the price tanked and all of a sudden the stock resurrected today. Looking back at my cut loss level, it should cut below 0.915 but it did NOT trigger the cut loss yet as it hit a low of 0.915 then rebounded. So by right the cut loss is <0.915 which is 0.91 and below. However I believe most had cut loss while some others are still riding on to this trade.

Cityneon rebounded to a high of 0.975 with healthy surge of buyers and I think in the short term, the stock is bullish with more upside to come. This time round, timing is very important.

Ronald K - Market Psychologist - A Stock Market Opportunist