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Monday, May 14, 2018

Opcom: Too Good to Pass Up?

Just before GE14, I posted that Opcom's rally was overdone. I still stand by my previous take on the stock. However, I would readily admit that it may exceed my expectation as it is a penny stock. Most penny stocks are strange creatures that move at the rhythm of the more volatile players in our market- the retail players. Once a retail player buys into a trading idea, there is no stopping him or her. 

If you have the stock, your goal is to exit before the game ends. If you don't have the stock, and you feel lucky, be my guest. I'm a cautious man who subscribes to the principle that one bird in hand is better than two in the bush. 

Opcom will probably to revisit its May 8 intraday high of RM0.68. If it can break above that level, it may surge to RM0.80-0.85. It may even try to entice you with the prospect of a limit-up at RM0.905. If that came to pass, you must know what to do. Remember Mae West's famous quote: Too much of a good thing can be wonder! 


Chart: Opcom's daily chart as at May 8, 2018 (Source: Shareinvstor.com)

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