Monday, August 25, 2014
Risky Game : Hot Penny Stocks
Last week, we have frenzy buying? We hit record hit trading volumes, thanks to many penny-stocks(cheap is good?) shooting higher and retailers chasing them up.
Today and tmr, many contra and short-term players will have to sell.
The Edge over the weekend shown 5 counters : PDZ, Globaltec, WZ Satu, Seacera and Sumatec.
PDZ : hitting high 42 but closed 29.5, then rebounded to 38.5 ... and today closed at 33cents. Will it break 30 cents tmr? Or shoot up higher than 40cents?
Glotec : Moved from 5-6cents to 10cents ... then, crazy buying coming in for it to move from 10.5cents to high 14cents, closed at 12cents. Today, it hit low 10cents and closed 11cents. Buying at 10cents ... sell 11cents is 10%?
WZSatu and Seacera no longer penny-stocks.
Sumatec : Shot to high slightly above 60cents, then one day dive to 44cents, rebounded to 52cents ... and 54cents ... and today closed at 47.5cents. Will it move up back above 54cents or break lower than 44cents? Interesting to watch tmr ...
How about other penny-stocks?
GPA : I bought at 13-`14cents and it breakout of 15cents resistance. It shot to 19cents, but I sold way too early. Today it hit 14cents ... and closed 15cents. Could it holds?
Marco : Recently breakout of 20cents, I took the breakout-play and sold in 2 days time. It hit high 25cents, now closed at 21 cents. Could the 20 cents support hold?
Opensys : Closed 40cents, broken 44cents. Next to check is 37.5cents, if 40cents broken.
Sealink : Support 50cents in danger now ... closed 53.5 today. Putting it back to my watch-list.
Ok ... trade well, do read about it "The Edge" last weekend.