I started my accumulation process for Koufu since May and June last month where I first saw the stock in the Top Volume for the first time after the stock hit the peak in March 2019. Since then, Koufu got sold down and every day, price dipped lower and lower with reduced sellers but there were no support. The appearance in the Top Volume in May alerted me to watch this counter since it could/might have touched a temporary bottom and it might be the time to start accumulate this stock. So I started to buy during May and June with 224.9 lots at 0.69-0.695. The stock went down since after I bought but it was holding strong and hence I decided to hold.
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As the stock started to rise after the base at the bottom with some strong collections, I started to add more positions 2 days ago at 0.72 with 224.9 lots because of the rising price as compared to breaking down which proved that there was strength in this stock. Currently the stock is trading at 0.75 where I believe to lock in profits soon as it touched a temporary supply zone.
It just proved that my observation was correct when the stock was under some serious buying last month. The market was down yesterday but still, the stock was strong and it was not sold down. This is one of the slowest stock but from the chart wise, it's the easiest to read since it's mostly text book stuff which I taught in my Stock Operation Course. Congrats to those who longed with me in the SOMM team and made $ together. Moving on to the next stock.
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Ronald K -
Market Psychologist -
A Stock Market Opportunist
