FOMO : Should we chase or not chase ?
Using one of my favourite stock as an example, we can see from the weekly chart that price has gone up by 42% from the low of 190.6 which was the first buy zone.
Second buy zone was at 264 price level and the third price was at 348. We can witness the 4th buy zone soon after it breaks above the resistance at 458. As it is a week long holidays in China, the market remain closed. What will happen after a week? I think the FOMO will continue as consumers are not gaining confidence from the government stimulus in both property and stock purchase.
It could also retrace to the 400+ price level , afterall it has rallied continuously for a few consecutive days. A pull back is good !
Don't beat yourself up for missing the lowest price level at buy zone 1 ,it is fine so long as you ride the trend at buy zone 2 and/or 3.
Second buy zone was at 264 price level and the third price was at 348. We can witness the 4th buy zone soon after it breaks above the resistance at 458. As it is a week long holidays in China, the market remain closed. What will happen after a week? I think the FOMO will continue as consumers are not gaining confidence from the government stimulus in both property and stock purchase.
It could also retrace to the 400+ price level , afterall it has rallied continuously for a few consecutive days. A pull back is good !
Don't beat yourself up for missing the lowest price level at buy zone 1 ,it is fine so long as you ride the trend at buy zone 2 and/or 3.
Catatan
today's closing will be key , we will be able to see if it closed with a bullish candle so it helps us to make an informed decision to accumulate
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