TOMYPAK Sold!

Finally.. been holding Tomypak a bit longer than I planned. It's alright however, as I made a small profit from the increase in share price and the dividend received. I sold my Tomypak last week for 1.92 (it did went up to 1.95 I think).. I am still happy with this trade although I only made small profit. Lesson learned from this trade is -

I should have averaged down when the price go down to 1.65. No courage to average down as I did not have much confidence in the company. If I have done some research and found confidence, I would have profited more as the quarterly result improved this time.

Another thing that I want to record is that I bought JAKS on impulse as I have read that KYY emerged as one of the largest share holder in the company. It must have some strength if KYY has so much confidence in it. Unfortunately, its recent quarterly result was not good. My average is around 1.31. It went down to 0.99 the next day when the result was released. Reminded me of INARI when I bought for 2.6 two years ago and sold for 2.2 after a few days on panic selling (it went up to 3.0 a few days later). I managed to calm down and stop myself from selling. I guess just now selling is not enough.. the price rebounded with three long white candles and comes back to hit 1.3 again today. If only I average down at 0.99....

Still TOMYPAK & AIRASIA

1. TOMYPAK
Other than being a bit slow and stagnant, this stock is not giving me problem. I have holding power so I will give it a longer time frame to decide on the direction of the price.

2. AIRASIA
This is giving me headache. I analysed the chart correctly but my position sizing does not allow me to sell to take profit even when the price went up to 3.3 at its highest. And today... the price is as low as 2.83 and closed at support 2.86. Today is the second black candle with decreasing volume. If the QR is good then I am fine. If it's bad then... good luck.

Lesson learnt: Position Sizing!  

Update: TOMYPAK & AIRASIA

TOMYPAK
To me the chart is showing positive sign as the price formed a doji today with high volume. Doji suggests uncertainty or indifference between sellers and buyers. I am of course hoping that the price will go up. hehe. Next resistance is around 1.8 or 1.81..

AIRASIA
Today airasia went up 4.5% and closed @3.25! impressive! I have not sold yet. However, the bad thing is that the volume is not picking up with the price increase. Tomorrow will be the third candle. If it's a white candle up with decreasing volume, then I will sell at closing, hopefully with a small proft.. hehe.

So tomorrow is a crucial day for me. It's good that I am working the morning shift these few days. I can monitor the price towards closing.

Another stock that caught my attention when I was looking at charts just now was ECONBHD. The price dropped with increasing volume and it hit trendline support today. Let's see if it rebounds tomorrow. I'm not buying as I have limited capital. Sad case... anyway, fingers crossed for tomorrow.

Recently bought TOMYPAK & AIRASIA

Not sure if this is the right time to buy stocks but I just couldnt resist and I bought TOMYPAK and AIRASIA this week. Here are the charts and the reasons for buying:

1. TOMYPAK

I bought this on Monday @1.70. Reasons:
1. it formed a hammer with high volume last Friday.
2. it hit the same level and rebounded.
3. Risk Reward Ratio at 1:2, I think this trade is rather safe. (I set my cut loss point at Friday low at 1.68. It hit my cutloss on Monday and yesterday but closed above it on both days. So I am still holding it and hoping to sell for a small profit @1.75. Moreover, when I look at the chart in a longer term, I know I have to follow my cutloss point strictly as the next support will be around1.53!)
4. Hopefully it bottoms out! (dangerous word - hopefully)

2. AIRASIA

 Bought this @3.08 around 3pm today for reasons opposite of TOMYPAK. Interesting combination of stocks. Let's try and see which one turns out a better deal.
Reasons for buying:
1. NICE trend
2. broke out of 3.00 with high volume - highest price in 3 years! Sky is the limit! (fingers crossed)
3. recently under spotlight and QR coming out soon (speculating on good news)
4. RRR at almost 1:2 (cutloss at 3.00 psychological level and take profit at 3.2)
Plan to hold this for short term. Ideally I should sell before QR is released. 

Karex sold

Finally sold Karex @ 2.50 but it climbed to day high of 2.55! Never mind. At least I got some profit in this miserable market *pat on the back*
The other stocks in my portfolio are depressing to look at. The only one that I am hopeful in is Biohldg. It has been swaying around trendline support at 0.38. Hopefully it surpasses it and surges to 0.43 then I can take profit!

Karex Follow-up

Looking back at my previous post on Karex, I was quite right - Karex's quarterly report announced on 25 May wasnt as good as its previous one. Its revenue dropped from 22,649,000 from the previous quarter to 9631,000. Hence the price dropped to its lowest at 2.13. As usual, I failed to cutloss or average down. My average now is 2.32 and the today it closes at 2.46. So I'm lucky if I can sell with a small paper profit tomorrow or this week if it hits my target at 2.5 (200MA at 2.53 now; previous target 2.55). Maybe this rise is due to the good news that Karex is featured as one of Forbes' Asia's 'Best Under A Billion' list. I am positive in Karex in long-term but not optimistic with the market sentiment. So, I am hoping I can see and buy back when price drops.

Karex Trade

Bought Karex @ 2.40 on 6.5.2016
My plan was actually to cut loss at 2.35 and TP was 2.55. Went below 2.3 but did not cut loss, hit 2.5 (hit 200MA resistance) but did not take profit. Today black candle with high volume. Suspecting that the quarterly result may not be good, hence the drop... but as a trader (haha.. still a long way to go), maybe I shouldnt guess. I should just focus on charts...