Friday, November 02, 2012

SKPetro surpassed its recent high

SKPetro broke above its recent high at RM2.60. With this breakout, the stock is likely to continue with its uptrend. Its possible target for the current move is RM2.90-3.00.


Chart: SKPetro's daily chart as at Nov 2, 2012_9.30am (Source: Quickcharts)

Note: 
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, SKPetro.
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2 comments:

  1. Mat CendanaMonday, November 05, 2012 3:37:00 PM

    Remember when it was languishing below 2.00 just after the merger and re-listing? Plus the time when it bounced back but still below 2.20?

    Yeah, it's easy to use the benefit of hindsight to say "It would have been a good buy then" so I'm not going to say that. Instead I'm trying to figure out what it is inside us that often makes us hesitant in not buying something when it was much cheaper?...and instead buy something when it has reached its high (and needing it to go higher to make a profit)? Shouldn't it be the other way, i.e. buy when it was low and sell now, in SKPetro's case?

    This is something that I'm trying to improve in myself - if, after having done enough research and satisfied that a counter has potential, and the current price is "reasonable enough", go against the crowd and buy. Might have to wait a while but with these quality counters, they tend to reward you sooner or later.

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  2. Alex LuThursday, November 08, 2012 10:25:00 AM

    Hi Mat Cendana,

    I will post something why we failed to Buy Low & Sell High! It is one of my speech presentation in Toastmasters.

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