Friday, August 10, 2018

Comfort Delgro - Extremely Choppy

Comfort Delgro had some tough trading activities this week. The stock was extremely choppy and clueless until the good news came out as per below link.

Without the news, the stock doesn't seemed to move and buyers weren't interested in touching it. Today was another case where opening the stock maintained it's posture and then suddenly moved up towards 2.39 before slamming down all the way to 2.32 in like 7-10 minutes which I circled in the 5 minute chart attached. Its extremely choppy and had to predict the movement. Personally for me if I traded this counter, I would have locked in profits at 2.38 and move on to another stock while because of the good news, most swing traders might hold it tight for further upside.

Study the top volume, after the market gap down today, many stocks recovered a little like the banks, YZJ, Hi-P, Yanlord and some others but because of the uncertainty now, it's hard to even execute a good trade since the big direction is unknown due to the trade war. For now, short term trading is still the best to avoid causalities.

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Ronald K - Market Psychologist - A Stock Market Opportunist