Paramon follow-up

I mentioned about Deja vu on Paramon, http://reiccs.blogspot.com/search/label/Paramon and I'm expecting she need weeks to move. And she really takes her time, is already 4 weeks , really testing my patience.
And today she finally make some good move (4%). Lets, see if I can achieve my target in the coming 1 to 2 weeks.

Deja Vu for Paramon ?

Last time I mentioned about Paramon on Trendline discussion. That was happening the 3rd time.
Will it happens for the 4th time ? I've entered some at 1.51, lets see how it goes, she may take weeks to repeat the history or she may not repeat the history this time. Lets see how see goes.

Trend channel follow-up -Paramon

On 10Mar2012, I mentioned Paramon when she is trending near the bottom of her channel, see below for part of my comment or you may need to refresh in details what I have wrote at http://reiccs.blogspot.com/search/label/Paramon

......"So, how to play ?
To those traders that does not want to miss the opportunity, one should enter position if Monday intraday can goes higher than 1.61. These again based on probability, the true support may not be 1.58, so one should enter with a smaller position and keep some remaining bullets to average down at 1.52 if really the trendline A is the way the market really wants Paramon to go.

What about you are conservative ? So, just wait till 1.52 to enter, if she really doesn't goes down to this level, just forget about her and moves on to hunt for another better probability stocks....."



Today's comment

On 23Apr, she started to trade around 1.52 which even the conservatives also can enter. Remember ! even with TA, one cannot be accurate till the exact cents level when I mention about target entry price.

As of 21/June/2012 (is been 3 months +) , she has finally reach back her upper channel line, awesome right ? One can have his own sweet time to purchase around 1.51~1.62 as she fluctuate on these range for about 2 months. Meaning there is no rush in buying when she has reach the bottom of the channel line.

So, is it time to sell now? If on3 were to follow the trend channel game plan, it is time to sell. Again, remember one cannot get every juice out of an orange. She may breakout from the upper channel line but hey with this channel range, one already profit 18% for a mere 3 months period. One should not be greedy.

Trend channels which is which ?

Trend channels or trendlines are used widely by traders. Sometimes you may find the channels are giving more reliable signals for one to sell or buy than classical resistance or support. But there is a weakness when using trend channels, as my tittle said, which is which ? I used Paramon as a case . Paramon is a good FA stock though I did not monitor her closely.

In the 1st chart, which I named trendline A, it is still not the right time to buy, one need to wait till 1.52 which will be the bottom trendline support to go long. But then again, different people may have different viewing perspective which I come upon trendline B when I observed the chart further. In trendline line B, Paramon has rebounded from the 1.58 support and closes at 1.61 (a buy signal).

So, how to play ?
To those traders that does not want to miss the opportunity, one should enter position if Monday intraday can goes higher than 1.61. These again based on probability, the true support may not be 1.58, so one should enter with a smaller position and keep some remaining bullets to average down at 1.52 if really the trendline A is the way the market really wants Paramon to go.

What about you are conservative ? So, just wait till 1.52 to enter, if she really doesn't goes down to this level, just forget about her and moves on to hunt for another better probability stocks.

Hope you all gets my point. I may talk more on my first comment that trend channels are more reliable to buy & sell if I able to find a simple to understand chart to elaborate on this.