Interesting question - I'm not a brilliant short term trader.
However . . . I try to profit from some opportunities in stocks I follow. I wish I did try range trading this one! I don't think this is a stock for a quick trade on a breakout, as it will look expensive (at 20 times) to a trader scannign the market, compared to other stocks on lower PEs, with more volume in this market. This has been more for range-trading IMHO.
Also there are more sellers than buyers within 10 percent of the last sale price.
This has been bouncing between about $3.3 and 3.6 approx for quite a while. It really has broken out - but with little volume - so might be suspicious of somebody playing games to see what happens.
I've been accumulating at an ave of about $3.43 - mostly at about 3.2 ish. (Initially my buy in price was $4.04 (based on expecting to make about 15% per annum over ten years based on past performance - which is still slightly underwater). This is about 12.5% of my aussie share portfolio.
If I can reduce my ave buy in price - will buy more.
- Forums
- ASX - By Stock
- breakout?
Interesting question - I'm not a brilliant short term...
-
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add WTF (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online