Monday, 7 January 2013

Singapore Stock Tip: Where should you place your stop loss for Supergoup?

Dear Friends,

Attached is a chart of supergroup, a stock which one week back I posted. To this day, I believe the professional money is still inside the stock. These few days after touching the top of $3.33, it comes back down to 3.16 now. I know some of you are concerned, and asked me where the stop loss should be placed.

Depending on your lot size and risk tolerance, I would like to give you 2 suggestions on the best stop loss. There will be 2 supports here. One is $3 and $3.10. $3 support is the strongest! For me, I would prefer to put a stop loss at $2.98, just below the strongest support. Another stop loss that you might consider if your risk tolerance is slightly lower would be $3.08.

Recently, I have been asked about Yoma, also because it is going down a little. I have mentioned that as a trader sometimes we have to wait a while as we buy in when it consolidate, it is normal that professional money push the stock down or try to test the patience of the retailers. For those who have not entered Yoma, do not enter already.



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