The market was flat for the entire session before succumbing to further profit taking across the board, closing 13 points lower from yesterday's close at 4111. Top gainers for today are mostly penny stocks, UPM with the most significant volume but the value is still pathetic.
MEG fell to a low of 2.27 before closing at 2.29, lower by 0.43% from yesterday's closing. Rebound should be any time this week as ROC is pointing up although on a weaker momentum. Sell on rally would probably the best thing to do if momentum weakens further.
DGTL fell to a low of 1.59, same as yesterday's low before closing higher by 1.25% at 1.62. The stock formed a bullish harami-tweezer bottom, which is confirmed by ROC pointing up and momentum build up so I am expecting it to advance again in the coming days.
FGEN continued to consolidate in today's session as there are strong selling pressure whenever it reaches 14. ROC is pointing up but momentum seems to weaken so it might consolidate further at best. However, if the resistance at 14 is taken out convincingly, expect it to advance further with next resistance at 16.
Weekly charts of all three are calling for sell at rallies. It might be the best thing to do so I can assess the market better and take better position.
2-centavo paper loss in MEG - 13 trading days
7-centavo paper loss in DGTL - 4 trading days
10-centavo paper loss in FGEN - 3 trading days
I need to re-write my trading plan!
