Yesterday I told QB to buy this stock, but did not post as I do not want to be a stock caller! That is too fraught! But here is the chart for Great Panther with my indicators ( the long white arrow is mine! Just so the trend is clearly shown!)
- The sector is in a bull market
- Fear out there worldwide and silver is undervalued still
- The silver trade is not as crowded as the gold trade
- Perfect chart and great company
- The stock is clearly in an upward momo with little to no resistance as opposed to HL and CDE ( CDE was good too but not this good)
- I buy pull backs. This stock did a textbook pull back and got back above that magic 78.6 once clearing the 61 Fibonacci level
- Entry price was predetermined so you just had to set the trigger on conditional trading
- You can now wait until another pull back, which it should get, and off you go! If all goes well, of course!
- Be sure to pre chose an entry price and stick to the trading plan.
- My plan is to sell half the stock when reaches about 20% profit, hold until the trend ends with the remaining shares and loosen the stop as the prices rises. do not use percentage trailing stops, just eyeball it and place stop below the normal noise of the stock price...Good luck!
I can also state that although we discussed GPL I was closed out of after hours trading before we were done. Ergo I would have had to buy on the open and with limited access at work to see how it was playing out I didn't think about it again until it was well into the +10% range. I have made some good money with this stock, but the last time I sold it I lost track of it. It is hard to see something and advise a friend, but believe me that if you mention some trade to me I will do my own DD and if I pull the trigger I will accept the consequences. No one has ever been responsible for a bad trade as it is my money and I will never place blame on another. I perfectly understand Shaza's hesitance and accept it. QB