Friday, 6 July 2012

Old Town : Wait For Correction To Buy

OLDTOWN (5021) closed at RM1.75 with the high of RM1.78 which was higher than the previous high of 1.77 indicating the bullishness of OLDTOWN.
I would not buy the stock now, of course since it has been up. Instead, I would wait for the correction, a least cheaper than current price to buy in. I guess the best bargain would be the time when the price down to the red lines area (refer to chart). 
What do you think?

We could use Cup-With-Handle method, but there would not be much meat. Well, it did not 'qualify' our Millionology Cup-With-Handle conditions anyway.  

Note: OLDTOWN is one of the top pick for longer term investment by GrandPine. 

No comments:

Post a comment