Understand correction is for accumulation (not all stocks apply)
Sometimes, I get questions from members or followers when they see a correction, they think of sell.
Well, technically , they can but again it is not a question of buying or shorting only. You gotta understand your own profile as a trader and/or investor. For example, I seldom short stocks but rather accumulate them when there is a correction.
Some of the companies include
Amazon
Facebook
among many others that I have in my portfolio.
Lockheed Martin has been on my watch list for a while but for some reasons, it keeps going up and thus I have no chance to buy it.
I hope this correction will offers me the buying opportunity that I am awaiting.... There are 2 levels that I expect the price to retest before it rebound again.
Let's review in a few weeks time.
Well, technically , they can but again it is not a question of buying or shorting only. You gotta understand your own profile as a trader and/or investor. For example, I seldom short stocks but rather accumulate them when there is a correction.
Some of the companies include
Amazon
among many others that I have in my portfolio.
Lockheed Martin has been on my watch list for a while but for some reasons, it keeps going up and thus I have no chance to buy it.
I hope this correction will offers me the buying opportunity that I am awaiting.... There are 2 levels that I expect the price to retest before it rebound again.
Let's review in a few weeks time.
Note
Buy zone level 1 hit but considering the bigger picture, I am still not taking a bite on this company yet. Let's see if buy zone 2 will be hit in the next few weeks.Note
God bless me. We can see the selling pressure is quite strong and thus buy zone 1 acting as support might be broken down. Be patient, no need to rushNote
next Monday can add moreNote
Praise God, regardless you enter at buy zone 1 and/or 2, you would be making good profits due to the circumstances now !Note
Fast forward 8 months later, we can see from historical patterns that each time the price action visits the support zone, it bounce back quickly.Note
Praise God. Those who get in at buy zone 2 - congratulations !!!!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.