Yet another evidence that investors musn't let these analysts' opinions and TPs be the main reason for buying a counter. Sure, they can come up with convincing-sounding reports with neat charts and tables. Sometimes they might be right. But it's price action that matters the most. 5.21 was supposed to be strong support. But if that floor was breached, that's the cue to sell and cut loss. However, it's easier said than done, of course. Not many would have the discipline. They would wait, hoping it would rebound soon.
The price definitely looks attractive right now. But must be cautious and see where the support line is first. It's no fun buying `cheap' and then seeing the counter becoming even cheaper.
Gtronics is now in A of the major ABC corrections.Support is to be in the region 4.05~3.75 before expecting a technical rebound from here.Trade with care:)
Mat Cendana, Gtronic all IBs' give buy call. I checked dividend also OK. 23 sen last year is better than FD rate. Their director also bought recently so no red flag. Don't know why today drop a lot.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
i4investor
2,797 posts
Posted by i4investor > 2016-04-25 15:23 | Report Abuse
scary...good stock also can fall like this...