Downtrend is over?

last month, I made some major changes on capital allocation by transferring some of the assets from other platforms into moomoo, forming new strategies.

Having 3 accounts in total, with 1 CDS account and 2 nominees accounts, CDS account will be my dividend-focus investment portfolio.

The nominee account in other platforms will focus on growth stocks or undervalue stocks investment.

With easy operational access and practical UI, moomoo will be utilized for TA trading with FA as base. As such, I am looking forward to a better return in Moomoo starting August 2024 onwards, even though my record for July 2024 is at a loss.

What do I mean by TA trading with FA as base? So happen that recently I managed to profit from this strategy.

when we mention FA, everyone will think about FA indicators such as PE, EPS, fair value of sorts.

To me, familiarity to the stock is one of the factors considered as FA in my definition.

I always keep an eye on ekovest, knowing it is handling the RTS project, it's share price has a major support at 0.45 range.

Around end of June,  ekovest started to challenge support at 0.45, i know it's time to enter.

I have set a few exit strategies when i enter, which is to take profit when the price is up by at least 5%. On top of that, I will wait for a big volume coupled with the share price increase. All this condition is met two weeks later, without hesitation, sold all units and took profit.

However, I made a mistake here. I forgot to take the company's involvement in Johor development into consideration. The share price keeps continuing to rise and climaxes at the coronation of the 17th King of Malaysia, due to market anticipation of news announcement related to Ekovest involvement in the Johor Development plan. Eventually it falls back to the 0.45 range because of lack of news.

Moving way forward, an important lesson I learnt from here, is to continue monitoring the support range of ekovest, and to add one more condition when selling: buy on rumors, sell on news. In this case, the rumors will be Johor development plan, and the news will be the lack of news related to it.