AZO - it may not come back to the support levelFirst thing first, just because someone introduced you a stock, it does not mean you have to BUY. WHY must you follow others' portfolio to a T? Everyone's financial objectives are different, with different time frame, expectations, risks tolerance, etc.
DYODD - are you familiar with the business ? Is it undervalued? How is it's financial performance ? Don't just blindly jump into the wagon even if the person is well known and has millions in their portfolio. Good for them but not necessarily it means you can be like them. It is good to follow certain principles but understand your own circumstances first, especially do not be greedy to borrow money from banks to go LONG or SHORT in the market. You may get lucky once , twice , thrice but how long will this game last? Your greed will consume you and you will start to fantasise not needing to work, staying home to trade 1-2 hours a day and make couple of hundreds or thousands easily. Very very few people do in this world and many online are truly promoting their products/services , so know their intention clearly.
Now, from the chart, this is just one possibility that I have drawn, anything can change. It can jolly well went below the support level at 2742 and hit the 2500 mark before we see a rebound. Anything is possible.
And if that happens , can you tolerate the risk and sleep well at night ? If not, then perhaps you want to choose safer investment like REITS, ETFs (not all) that has lesser volatility and fits your investment horizon.
In short, know thyself !
