Awaiting to clear 0.285 hurdle

There is a possibility that if you chase the price now, your fate might follow the pink arrow.

I could be wrong and the price just keep on going up as well. Another safer way is to wait for the price to breakout of 0.285, sustain above it and go for a long .

That would have a higher margin of safety and confirmation.

Comment:

as you can see, once the price breaks out of the bearish trend line, it can still retrace like in this chart. If you are impatient and started buying at 0.27, say the close of the candle, then you have suffered a paper loss of 0.02 per lot (0.27-0.25) unnecessarily.

Retail traders tend to have the mentality that such cheap stocks ,they can buy much more. It does not work this way.

Comment:

because it did not break out 0.285 as I wish it would, this was only in my watch list.
sadly, it has now break down fiercely and broke down the bullish trend line.......

Comment:

Silverlake Axis: The business software company saw its third-quarter earnings more than halved mainly due to lower other income and higher expenses. For the three months ended March 31, net profit fell 51 per cent to RM25.6 million (S$8.4 million) from RM52.6 million a year ago. Shares of Silverlake closed at 25 Singapore cents on Thursday, down 0.5 cent or 2 per cent. (business times )

Comment:

It dropped another 4% this morning, price is now 0.2475.

Comment:

Tricky indeed, see how the price comes back into the bullish trend line....

Comment:

we are taking a small position here.

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a double bottom formed at 0.215 and it shoot up around 10% yesterday. Now, it is back to the bullish trend line.

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up 14.14% today, wow!!!!

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Praise the Lord, it has finally break out of the bearish trend line with very bullish candles. The 3 months of consolidation is finally over.