The next 2 days , Parkson continued going up some more and reached 0.067, or 28.8%(from 0.052 to 0.067) potential profit, in just 3 days.
Below is the live trading call I made for Parkson Retail on 4 Oct, in the morning:
According to my way of analysis, Parkson Retail has long term potential, this current rebound has chance to continue more and even make higher high than the recent high of 0.094 that hit in late Aug.
However, to chase now is definitely NOT an option for me after price to shot up 28.8% in just 3 days, because the stock is quite overbought and any time may suffer pull back, especially when the market is volatile like what happen in the market recently.
If you bought already and now has good profit, you can choose whether you want to hold long term or short term. If you think the company business will keep growing for long term and also ok to take the risk of deep pull back, you may consider to hold the long position for now. If you open position at low price with good profit now, and you don’t want to take uncertainty, then it is a good idea to look out to sell and take profit.
To myself, I feel the market is volatile now in the bear market, I will be more conservative instead of taking high risk. I will look out to close my long position on Friday morning when price is still not far from the high at 0.067.