Hi-p was called for long on 10 June(Monday) early morning and price started to shoot up within the same day.
On 11 June(Tue), price already hit 1.39, a 12% potential profit the NEXT day. Seems like making profit is quite easy, but actually a lot work have to be done to catch a rocket stock like Hi-p.
Actually I have kept it in my watchlist and monitoring since early April and only sent out a trading signal recently when it formed a low risk pattern with high potential.
On 11 June(Tue), price already hit 1.39, a 12% potential profit the NEXT day. Seems like making profit is quite easy, but actually a lot work have to be done to catch a rocket stock like Hi-p.
Actually I have kept it in my watchlist and monitoring since early April and only sent out a trading signal recently when it formed a low risk pattern with high potential.
above is the trading call I made. Hi-P gaped up that morning and I only manage to send out the signal at 1.26 because I wrote a call on AEM first(read AEM call) and it took me some time to prepare a good trading plan and wrote down the trading call.
After the rocket move, Hi-p caught the attention of many investors/traders and I receive more sms and whatsapp request on it. Generally, market participants would like to know what should we do thereafter? Can we consider buy some more or should take profit?
After the rocket move, Hi-p caught the attention of many investors/traders and I receive more sms and whatsapp request on it. Generally, market participants would like to know what should we do thereafter? Can we consider buy some more or should take profit?
Let’s do some trend analysis first,as shown above.
Although the financial report for Hi-p on 2 May was not impressive, net profit up 5.8%, not as good as that for Venture(net profit up 8.5%), but it is very different from other tech stocks like AEM venture which are in a downtrend. To my surprise, Hi-p is in a long term uptrend, can be seen from weekly chart. If one want to hold it for long term, I will say “can consider”. While for other tech stocks, like AEM and venture, I will suggest sell after recent rebound because they are in a downtrend.
After the Hi-p quick move recently, it is no doubt that there are resistance in front, $1.40 round number is a physiological resistance, the gap down on 9 May at 1.43-1.39 makes the resistance even harder to break. Therefore, price dropped ystday from the rebound high of 1.39. However, we can tell that the pull back was not as severe as venture and AEM, maybe because of the uptrend strength.
With all these in mind, I will say Hi-p may have more potential given time, but for now, it already started a consolidation. no one can guarantee that later it won’t become a deeper pull back, although Hi-p is relatively strong as compared to other stocks like AEM and venture. For those who have not bought hi-p yet, I will suggest to hold the fire first, wait for a new setup(good timing for entry) with high potential and low risk.
While for those already have Hi-p position in hand, I will have different strategy for long term and short term investors/traders:
for long term investors, since Hi-p is still in an uptrend as mentioned above, one may consider hold the position as of now, no hurry to sell yet and expecting price to go up some more given time. if in the next a few days price shot up quickly again to ard 1.50 level, then short term it will become too overbought, and I will suggest to sell then. If price just go up slowly in fluctuation, I think keep holding it and ride the uptrend will be the right way, until it forms some topping pattern or go above 1.62 where it is likely to experience some sell down and fluctuation because it is close to recent high already.
While for short term traders, like me. We don’t want to waste our time in consolidation and after ystday pull back of hi-p, consolidation already started for this tech stock. If you still have hi-p position in hand, better start selling to take profit. Although it is in an uptrend and may go up some more after consolidation, I will not be too concern. The goal of short term trading is to catch fast movement with low risk(like in the past 2-3 days), instead of being greedy and hoping to earn every single cent out of a stock. actually we can always consider open a new position again if it finish consolidation and start moving again, why waste time to experience a consolidation and take unnecessary risk of deeper pull back? Just like eating fish, we prefer to enjoy the fish body with all the meat and less bones while leave the head and tail to others.
Although the financial report for Hi-p on 2 May was not impressive, net profit up 5.8%, not as good as that for Venture(net profit up 8.5%), but it is very different from other tech stocks like AEM venture which are in a downtrend. To my surprise, Hi-p is in a long term uptrend, can be seen from weekly chart. If one want to hold it for long term, I will say “can consider”. While for other tech stocks, like AEM and venture, I will suggest sell after recent rebound because they are in a downtrend.
After the Hi-p quick move recently, it is no doubt that there are resistance in front, $1.40 round number is a physiological resistance, the gap down on 9 May at 1.43-1.39 makes the resistance even harder to break. Therefore, price dropped ystday from the rebound high of 1.39. However, we can tell that the pull back was not as severe as venture and AEM, maybe because of the uptrend strength.
With all these in mind, I will say Hi-p may have more potential given time, but for now, it already started a consolidation. no one can guarantee that later it won’t become a deeper pull back, although Hi-p is relatively strong as compared to other stocks like AEM and venture. For those who have not bought hi-p yet, I will suggest to hold the fire first, wait for a new setup(good timing for entry) with high potential and low risk.
While for those already have Hi-p position in hand, I will have different strategy for long term and short term investors/traders:
for long term investors, since Hi-p is still in an uptrend as mentioned above, one may consider hold the position as of now, no hurry to sell yet and expecting price to go up some more given time. if in the next a few days price shot up quickly again to ard 1.50 level, then short term it will become too overbought, and I will suggest to sell then. If price just go up slowly in fluctuation, I think keep holding it and ride the uptrend will be the right way, until it forms some topping pattern or go above 1.62 where it is likely to experience some sell down and fluctuation because it is close to recent high already.
While for short term traders, like me. We don’t want to waste our time in consolidation and after ystday pull back of hi-p, consolidation already started for this tech stock. If you still have hi-p position in hand, better start selling to take profit. Although it is in an uptrend and may go up some more after consolidation, I will not be too concern. The goal of short term trading is to catch fast movement with low risk(like in the past 2-3 days), instead of being greedy and hoping to earn every single cent out of a stock. actually we can always consider open a new position again if it finish consolidation and start moving again, why waste time to experience a consolidation and take unnecessary risk of deeper pull back? Just like eating fish, we prefer to enjoy the fish body with all the meat and less bones while leave the head and tail to others.
Some investors missed Hi-P nice move, some investors may feel challenging in stock pick and price monitoring to catch nice great trading opportunities, like Hi-P and other stocks (click here to read other trading calls made). If you encounter similar challenge in the market......