SINO? SINO? SINO NGA?

Thursday Log:

Well, SINO closed at 0.42. It didn't reach the target of 0.53 nor anywhere near that figure, even though the market went up a hundred points.

Friday Log:

Well, SINO closed at 0.42 (still). It didn't reach the target of 0.53 (yet) nor anywhere near that figure (wait for it). SINO closed at 0.42 (still) even though the market went down by -4.61 (0.1289%)

So what happened?

Look at the moving averages below:



SINO just crossed the 65 day moving average. It touched the 130 day average slightly and pulled back. SINO will have to settle first at 0.40, and then make a major bounce back. The support now is 0.40.

What does this mean? It means that SINO hit a resistance point (i.e. the 65 day moving average). So it's probably testing that point. (The 65 day MA is 0.43) SINO hasn't convincingly closed at 0.44 on strong volume yet.

So what is the strategy? Just keep this on your radar. The problem with SINO is that it takes it lead from APC. So you must also check if APC is being bought.

One rule with bandwagon trading is that you ride the train when it's moving. And when we say moving, we mean moving up.

And that's the golden rule #1 of bandwagon trading.

"Join the ride up."

Your valuable tools:

Ticker
Intra Day Volume Review
Chart

The limitation is that you have to be monitoring stocks daily. If you plan to buy and hold it for a longer period of time because you can't monitor daily. Try looking at the weekly chart as well.

Let's see next week if our little experiment for SINO worked. Have a nice weekend to all!