You can see from the weekly chart that prices are going sideways since 2020, much like a pinball hitting the ups (resistance) then rebound off the lows (support) for 3 years. So, if you had bought this stock in 2020, you probably have a roller coaster ride of being happy and feeling frustrated.
If it can breaks out from the current resistance level , ie 387-410 , then we are safer to say it is trending up. However, nobody can say for sure as it has happened in Sept 2021 where it breaks out , only to come tumbling down..........
There are naturally short term traders who are adept at finding opportunities to long and short in this phase but is a RISK you have to take, if your heart can take it. Else, I say sit on the fence and wait or look for better stocks. As I said, buying process is easy, it depends on how much you have (capital) and how much you want to buy and at less than 30 seconds, you can become a shareholder of these companies.
The trick lies in the homework prior to hitting the buy button. Always take what others write with a pinch of salt (including mine) and do your own research. Over the years, I have discover the stock market is a good reflection of one's thoughts, psychology and emotions. What you buy, when and why reveals a lot about your inner thoughts at that moment.
Hopefully, we made less mistakes and cheaper ones compared to the profitable ones in the long term in order to grow your wealth.
If it can breaks out from the current resistance level , ie 387-410 , then we are safer to say it is trending up. However, nobody can say for sure as it has happened in Sept 2021 where it breaks out , only to come tumbling down..........
There are naturally short term traders who are adept at finding opportunities to long and short in this phase but is a RISK you have to take, if your heart can take it. Else, I say sit on the fence and wait or look for better stocks. As I said, buying process is easy, it depends on how much you have (capital) and how much you want to buy and at less than 30 seconds, you can become a shareholder of these companies.
The trick lies in the homework prior to hitting the buy button. Always take what others write with a pinch of salt (including mine) and do your own research. Over the years, I have discover the stock market is a good reflection of one's thoughts, psychology and emotions. What you buy, when and why reveals a lot about your inner thoughts at that moment.
Hopefully, we made less mistakes and cheaper ones compared to the profitable ones in the long term in order to grow your wealth.
Comment:
very nice breakout, now let's wait for retracement first.