Big funds buy blue chips. Small funds buy peanuts. Why do retailers always goes for penny shares? I think it is due to the good feeling of holding more of less value than less of more value. Or maybe retailers live in fantasy island? Buy 10 cents share, up 1 cent, earn 10% liao! Better than fixed deposit!!! But do the retailers have the power to push the price up? After buying penny shares, we always wait for the "syndicate" to push it up. Sometimes we may be lucky, but most of the time we will go to "Holland".
Today, 2nd liners all fly high. Push push push! After 942 has been broken convincingly, everyone rush in to buy. The fear of buying high and selling low still persist. The trick is not to buy when it is overbought. From my observation, when a share is in the overbought region, the probability of it going up more is not that high. Most probably it will take a rest first to flush out those with no holding power. So do keep the temptation away from yourself. There are still many more counters with better probability for us to hop on.
I have so many counters to monitor. Very kancheong now. But must still try to keep cool. Which counter to average down (so that can get out)? Which counter to take profit? Which counter to hop on? Aiyah, my mind cannot work that fast lah. Just a greenhorn in this share thing.
Plus - First time it manage to close at 3.40. RSI shows more room to go up. Maybe target 3.50. So I hopped into Plus-CA. The ex-price is 2.79, which means it should go to 0.70. If I use the triangle breakout computation, then the target will be at 0.65.
FTEC - Just manage to close below the resistance line of 0.31. Hmmm...if break, next target will be 0.38.
Sumatec - Will be challenging 0.745. If break, then target 0.86.
Talam - Debt problem solved? If break 0.66, then next target is 0.86. Is Talam-wa worth the risk?
L&G - Broken the RSI downtrend line. Should be able to break the 0.20-0.21 region.