I MISS THIS BOAT, i didn't trade in Supermx. Just would like to capture down another example of Up trend + VCP Pattern for future reference.
Again, Supermx is SIMILAR (VCP) to previous 2 stock that i trade (RUBBEREX and CAREPLS).
1st Contraction: -32%
2nd Contraction: -10%
3rd Contraction: -4%
Lesser contraction mean the supply of stock in the market getting LESSER (observed the volume during contraction also lower) and if demand is HIGHER, then people will need to purchase at higher price. Therefore the price will rocket up.
Buy point for Supermx should be on 15 April where the price rocket up that day with strong volume. It attempt to breakout the neckline 1.87.
Again, Supermx is SIMILAR (VCP) to previous 2 stock that i trade (RUBBEREX and CAREPLS).
1st Contraction: -32%
2nd Contraction: -10%
3rd Contraction: -4%
Lesser contraction mean the supply of stock in the market getting LESSER (observed the volume during contraction also lower) and if demand is HIGHER, then people will need to purchase at higher price. Therefore the price will rocket up.
Buy point for Supermx should be on 15 April where the price rocket up that day with strong volume. It attempt to breakout the neckline 1.87.