This stock follows our projection very accurately. We did mention that our 2nd target on supergroup is $4.95-$5. After it broke out of $5, we did mention to put a stop at $4.97, just in case it drops back. It indeed drops back. Now it is at $4.74.
Our last article:
As a trader, we feel not only should we learn about entry, we should also learn exit. Through the years, I seem to have developed an intuition towards when might a stock reach a peak. I have come out with a system called "The Law of Gravity of Price". It has served me well and it works wonders with this stock Supergroup.
Do take note that the targetted prices that we set on some of our recommendations are carefully picked and follow our LAW.
There are basically 3 fundamentals that are important in TA. Throw away indicators.
1) Momentum and Speed
Once you learn this 3 things, then you may go deeper into indicators.
Btw, coming back to Supergroup, we feel it just an excellent level of support based on “The Law of Gravity of Price". Currently, it might travel in between $4.70 to $4.80, might ding dong for a while. This Zone is the Accumulation Zone for the stock!
A breakout off $4.80 should be a confirmation of higher heights.
$4.80 is the point to watch out for!
I am aiming for $4.97-$5 should it do so!
But do take note that a breakdown of $4.70 means trouble! Avoid this stock if it breaks down of $4.70.