The first few trades under my Operation Tsupita have been a success. I bought EDC at 4.55, sold at 4.65; bought MER at 181 and 182, sold at 187 and 189; bought SCC at 85, sold at 88.5 and 94. I may not have been able to pick the highs but the good thing is, I was able to sell at a profit. I'll just work on the maximization of profits next time. It's "larong paso" time!
Since I exited those trades already, I asked myself yesterday and today, where should I shift to next? I received a comment two days ago saying I should sell MER to buy RLC and AC. I took a look at RLC's chart and I decided it had the setup I like, this setup being a consolidation around support and looks like it is already bottoming out. The plan is, to buy at support and sell on the bounce. I bought RLC yesterday at 13.75. I also bought EEI at 3.70, bought more today at 3.75 and 3.85. I'm wondering now if my move to buy EEI at 3.85 was a good idea as 3.85 now acts as EEI's 1st resistance. In a slightly bigger picture, we can see that EEI is range trading between 3.65 to 4.10.
My next project is PIP. I started buying today at 2.65. It's been hovering around the 2.60 to 2.70 levels for a little over a week now. Stochastics also look bullish so I took a position. In a slightly bigger picture, it has support at 2.55 and resistance at 3.05.
MEG has been so strong lately. I didn't get to buy back my shares yet! Bummer. But anyway, I got my eye on VLL. Stochastics gave a buy signal today but it hasn't broken above its resistance of 1.92. Big Mac is still gobbling up shares at 1.88. Yey! I I bought some last week at the same price. :P
By the way, I had a little experiment on GMAP. I bought at 6 pesos. I find GMA stocks weird, actually. They are trending down with hardly any bounce. But at 6 pesos, this is already a 50% retracement, while at 5.3, 61.8%. Let's see!!
5 comments:
hi christinahunt! ill buy also RLC but dont know where is the target price. also how much will it be if REIT will be factored in. i also like SMPH. buy 10-10.25 sell at 10.75 to 11 or wait for the break out.
anyways i find your site very interesting.. keep one doing the good work! :)
Thank you! ;) I appreciate it! I'll certainly do my best.
I'm actually not sure how RLC will fare when you factor in REIT. Sorry! But I did read from Citiseconline that ALI's TP will be raised by Php1.50. Maybe a similar figure can be applied to RLC? :P For me though, if RLC does bounce, we have an upside of 14.50 or 15, then 16.
Yeah, SMPH is moving within a clearcut range between 10.25 and 11. Good luck! :)
ikaw ata nag bid up ng EEI kaya tumataas eh :) hinay lang!
Sayang yng EDC i think it will continue trending up to 4.85...RLC is a good buy I bought also 13.75..
Hahaha! Nakisabay lang ako.. :P Ayaw mamigay na kahapon sa 3.80 eh.
Oo nga eh. I was initially targeting 4.75 and 4.80 but when I saw it form a potential lower high, I didn't want to take any chances. I just exited the trade. Haha! Lakas ng LPZ and FPH ah! Sayang! I was waiting for FPH to bottom out around 52. Gap up today eh.
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