Showing posts with label APC. Show all posts
Showing posts with label APC. Show all posts

Warning on APC - please sell on the rally or just cut your losses  

Posted by Book Eater in


Hello

Today I learn something very important. That you never trade ranges when the long term picture is a downtrend line.

For all people who read any of my posts, I hope my "warning sign" at the left hand portion helps. If you trade anything I say out here, that is your personal decision. Not mine. I hope those who follow me..will also follow my exit trade plans.

Okay...My trade plan was to sell APC only when it breaks my support line (weekly) at .43

However, tomorrow I will sell. The reasons are:

1.) Long term picture is a downtrend line. Since start of July 2, 2007, this one's been in a large downtrend line. It is a very weak stock. I should have never traded this at all. Why did i even think it will touch the resistance line? that was a weak and long shot bet.

2.) Two trading days significantly no volume, and aggressive selling by brokers. Today it closed at its lower low. (at .47 yesterday and today at .46) Very deadly sign.

3.) Volume disappeared.

- basically that.

boo hoo:(

- Nix

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Stocks on my watchlist/portfolio  

Posted by Book Eater in , , ,





1.) APC - TP .56, Last price = .47, upside= 19.15%




APC's weekly chart definitely shows a downtrendline but for range traders like me, this indicates an upside of .56/.57 which is still possible. This is the resistance. Thus, the recommendation for range traders is to just hold unles it breaks below the .43 supportline.



My trade plan: 1.) I have this stock in my portfolio with cost of .50. I will buy more from a successul bounce from the .43(with volume) so perhaps at .44/.45 i will buy. If not, simply sell all shares because it's a break of two support tests. Also, note that 32 day moving average is also at .43


Sidecomment:


---btw, for those who do read my posts, I've sold my PIP at a loss @ 2.75 because i used the proceeds to buy my CMT @ .90 and .91. There. Even if PIP went up to 3.05,2.95, it's totally fine because I view the decision as shifting from an illiquid and down trending stock to something more uptrend and more certain. there. Also, my selling of CMT @.99 is more of a contingency because the actual support of CMT is at .71 (very very far) which doesn't really suit my trading style. I actually have a plan to buy back CMT, when proven that I sold too early but as of now, the market sentiment for CMT is already going down, judging from daily charts. A failure to create a higher low and a lower volume as well as closing at the low are bad signs. I would recommend people to take profits and go back when the storm passes.



2.) AGI - TP 5.10, Last price = 4.50, Upside = 13.33%


From the weekly chart, AGI is a symmetrical triangle with the most conservative tp of 5.1, but this is going to take us months to get there judging from past runs the symmetrical triangle did.


From the daily chart, AGI hit the parabolic sar, philequity partner has been buying around Php20+ Mil today at costs of 4.45,4.50 etc. What's bothering is that in theweekly chart, prices are going up but MACD's still in the negative and even going lower. That seems like a bearish divergence to me. However, there's incredible volume buying AGI up to 4.45-4.50, a continued rise will make me a believer inthis. Support line is at 4.3,4.2




- Nix






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