Saturday, November 5, 2011

05th Nov 2011–JaVA coffee… anyone?!

Buy $

Sell $

Sell Short $

Buy Back $

Stop Loss $

Profit / Losses

Duration

10.10

 

 

 

9.44

 

 

 

imagesReason for Buy / Sell / Sell Short / Buy Back:

 

  1. Intraday chart shows that it has started to break the down trend line and try to go higher, but came back down and do multiple bottom at around $9.50 to $10.00.
  2. Daily chart shows that it has just started broken the long 4 months downtrend line.
  3. Daily chart also shows some kind of very nice U shape cup with handle.
  4. Daily chart also shows that price seems to find support at Fibonacci level of 61.8%.
  5. Long term weekly chart also shows that it seems to find support at 47MA line.

 

Lesson Learnt:

 

  1. I did the 1st purchase (40% of total ) at $10.00. Immediately after purchase, price shot up quickly.
  2. I set another purchase (60% of total) at $10.10. The price was captured about an hour later.
  3. Things to watch out for is daily chart shows that it is still below all MA lines and weekly chart MACD is still not pretty.
  4. Daily volume went up above average on second day of purchase which is good sign.

 

Intraday Chart

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Historical Chart

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