Traded the above stock on 18/12/19, entry price at $0.061. Decided to post a "Estimation" in investingnote.com.
Seven trading days later, price went up to $0.067 with enormous trading volume..
Expected the price to run up to 1st supply zone near $0.075.
Perform my scanner again on 28/12/19. Thomson Medical appeared to the no.1 base on criteria for break peak scan.
A look at the daily chart on 28/12/19
A look at the Weekly chart on 28/12/19
With the enormous upbar, it will likely to attract sellers who have bought much higher price earlier
and looking to even out without loss or breakeven. As such, daily pivot level 0f $0.065 will be observed next week to see if the price can hold above PP level.
Personal Opinion- there is still room for higher price, nevertheless, no matter what we think about the stock will do or not, the market will always prove us wrong therefore always be on guard for sudden change in emotion swing and exit quick enough to breakeven or make a small profits.
Happy Profitable Trading in 2020!
Cheers
