Tuesday, August 02, 2016
Stock Watch : GTronic
This is the daily chart of GTronic ...it hit RM2.80 level today, and I m still watching. Yes, I do have intention to buyback ... as I have cut-loss somewhere up there ... if not? Low becoming lower
I will want to use GTronic as an example of CRASH situation where ... many newbies or those who came in before 2008-crash don't know what they will be facing.
The neckline was at RM5 level where we need to exit. Easier than done. It could be due to APPLE news ... or the drop in profits. For whatever reasons, exiting is still important.
The peak was around RM6.60 ... divide by 2 = RM3.30 ... so, I thought of RM3.30. Well ... when RM3 broken, I have placed another alert (check previous post) ... and now we are at support RM2.80.
During crash, DO NOT try to catch knives ... If we check the chart, it came from RM1 plus to RM6 plus ... so, at RM2.80 level now is NOT cheap. Because ... during crash, it would go back to base or way below that.
If Gtronic going below RM1 during the crash(it wont at the moment), looking at the fundamental ... buy in stages?!!
But ... market not crash yet and many stuck inside GTronic ... the uptrend was long time over once the RM5 broken.
I will show more of these charts ... as many will be tumbling down ... one-by-one ... if newbies or retailers DO NOT know how to cut-loss, I will suggest to GET OUT before more crumbling down further ... join me during crash, if you wish/dare.
Note : Be aware of those stocks rallied few hundred percent (no logic) and get out once the theme play is over. Use CHARTS to exit.