BUY - There were multiple breakout entries for this - Soared for 70% in 2021 - Keep observing for more entries - Buy when it dips and put SL around 1.46
SELL - Nail down profits/partial profits to protect the profits for early buyers (But, why sell when it’s a bull still?)
RATIONALE - Tennis ball action – higher highs - Very high momentum - ATH - Steel sector is doing strong
**the analysis is solely for my own references and learning
This stock is in my watchlist too. Do you think still can enter now? It is already extended.
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@Luna_azul, it's a bit too sharp of a rise for me. I would wait for the formation of another base. however, for a shorter timeframe of trade, if there's a flag or pennant, i might with a tighter position of SL. how about you?
Luna_azul
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I am still observing. Might enter if there is pullback. Do you think the steel industry will continue to be strong?
0e8f8b19869e43618744fd693f2bd6
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@Luna_azul, i think that it would still continue to be strong at least into the next one or two quarters according to many of the QRs released by the steel companies. so far, some of the many steel companies are having breakouts from a base after the hike end of last year and early beginning of this year, there's still room for them to go a bit higher. but sentiments are very sensitive now, a bit of negativity will affect the price so we must be vigilant. we can take gloves and techs as examples.
Luna_azul
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Yeah, you are right the market sentiment is bad right now. Should wait for better timing.
0e8f8b19869e43618744fd693f2bd6
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@Luna_azul I think the blanketing bad sentiment is a chance to pick low because there are no real bad reasons but panic for the time being. haha. but again, picking low is a nono in trading.