Koufu - Longed Another 959.7 Lots

As Koufu continued to be a hot stock recently, I remembered 3 days back, I also shared this counter to all who came for my private sharing session that this stock was going to shot through the roof. In fact, to be exact, I gave this stock a bullish alert on my blog too! Check out my blog post below to see my initial sharing on this stock on May 16th.

http://stockmarketmindgames.blogspot.com/2019/05/koufu-nice-chart.html

So as the stock trended higher, I traded another 959.7 lots at 0.725 when the stock encountered wave of buyers with lesser sellers. From the 5 minute chart, the signs were pretty clear where there wasn't profit taking at all. As the STI and some blue chips took a simmer and came down, Koufu just stay strong without much selling which indicated some strength that this stock could move higher. Indeed, today it touched a peak of 0.77 where I am slowly letting go the rest at 0.765 and maybe 0.76.

In fact, for the ones I got in at lower prices previously, I sold some of my shares at 0.735 and looking to unload more. As for why I am unloading them in the short term? It's because there was a good news released earlier in the morning today where I thought selling into strength with good news was a powerful strategy.

The thing was what did I see in the chart when I accumulated at the bottom BEFORE the good news was released? There was strong 3/4 bottom with ws. Study that and you will find it useful in your next trade. I don't really calculate how much I made in this trade but I believe it's roughly in the 5 digit figure. Moving on to the next trade.

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Koufu good news picture source: sgx.com

Ronald K - Market Psychologist - A Stock Market Opportunist