Today many of the stocks have ended their losing streak (all stocks in my watchlist are in green). But wait. I’m not saying that it is safe to do a shopping spree now.
However, I must say that LPKR seems to be a good buy after the last candlestick is closed in the opening of the previous day, and also notice the increase in volume today. It signals that more buyers are interested and willing to pay more. Moreover, the oscillator said oversold. Well, but the thing is, almost all stocks in oversold area now, and many (including myself) is in the safety of cash. Will we spend our money now? Or is it just a false signal?
This is risky, but we should manage risk by putting a reasonable stop to cut loss, like less than 2% of our Capital on stake in this trade.
The chart was made using IPOT with 22-day Bollinger Band (BB), 12/26/9 MACD (middle) and 12/3 Stochastic Oscillator (top).
Easy target price: Rp.780. (and a possibility to rally to Rp.1,000, but that’s another story).
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