Understand correction is for accumulation (not all stocks apply)
Sometimes, I get questions from members or followers when they see a correction, they think of sell.
Well, technically , they can but again it is not a question of buying or shorting only. You gotta understand your own profile as a trader and/or investor. For example, I seldom short stocks but rather accumulate them when there is a correction.
Some of the companies include
Amazon
Facebook
among many others that I have in my portfolio.
Lockheed Martin has been on my watch list for a while but for some reasons, it keeps going up and thus I have no chance to buy it.
I hope this correction will offers me the buying opportunity that I am awaiting.... There are 2 levels that I expect the price to retest before it rebound again.
Let's review in a few weeks time.
Well, technically , they can but again it is not a question of buying or shorting only. You gotta understand your own profile as a trader and/or investor. For example, I seldom short stocks but rather accumulate them when there is a correction.
Some of the companies include
Amazon
among many others that I have in my portfolio.
Lockheed Martin has been on my watch list for a while but for some reasons, it keeps going up and thus I have no chance to buy it.
I hope this correction will offers me the buying opportunity that I am awaiting.... There are 2 levels that I expect the price to retest before it rebound again.
Let's review in a few weeks time.
Comment:
Buy zone level 1 hit but considering the bigger picture, I am still not taking a bite on this company yet. Let's see if buy zone 2 will be hit in the next few weeks.
Comment:
God bless me. We can see the selling pressure is quite strong and thus buy zone 1 acting as support might be broken down. Be patient, no need to rush
Comment:
next Monday can add more
Comment:
Praise God, regardless you enter at buy zone 1 and/or 2, you would be making good profits due to the circumstances now !
Comment:
Fast forward 8 months later, we can see from historical patterns that each time the price action visits the support zone, it bounce back quickly.
Comment:
Praise God. Those who get in at buy zone 2 - congratulations !!!!