Sold - Brightoil (933.hk) and Chongqing Iron (1053.hk)

Sold 1K Brightoil at $2.50, which was bought at $1.97 on 24 March.

Profit of $513 (26%)... Woohoo! Broke my last record of Youyuan (2268.hk) of 21%.

But got stopped out of my Chongqing Iron (1053.hk). Bought 2K shares at $1.10, sold at $1.15. Tiny profit of HKD$60+ (3%).

Brightoil (933.hk) - Time to sell?

Support price for Brightoil (933.hk) seems to be holding above $2.40 though RSI is falling and MACD is turning bearish.

Should I get stopped out or just sell at market? Decisions...

Use of moving averages as stop loss levels?

Got this inspiration while reading another book (Invest Like a Shark by James Deporre).

My current profitable trade in Brightoil (933.hk) has seen quite a fair amount of profit. I think I will try this method to establish my stop loss levels once the current one placed yesterday expires this evening.

My second open trade in Yuhua (2728.hk), while (slightly) profitable, is tying up quite a fair portion of my total portfolio. As such, I've tightened up my stop loss to $1.02 (quite substantial with little leeway for any price decrease) to get out.

Youyuan (2268.hk) was my previous trade that I closed at $1.77. If I had used this method instead, I would have been stopped out at $1.795 due to the long lower  shadow on 31 Mar. Otherwise I would have still been in the running for this share.

However, if we look at Jimei (1159.hk), the very first stock that I bought that stopped me out on the very same day, the stock volatility would have easily kicked me out of the trade as the price penetrates the 30-EMA levels too frequently.

Brightoil (933.hk) - Good run-up

If the OBV and RSI remain strong, there'll be a good chance that my target of $2.50 will be reached by the end of this week.

Raised stop loss to $2.15 to prevent being stopped out by whiplash.

Brightoil (933.hk) - Hitting a hard resistance ceiling

The price seems to have hit a resistance at $2.40 and has stubbornly refused to budge.

In consideration of the two options to take: Whether to take profits (with 1 lot @ $1.97) or wait for stop loss to be triggered, I have decided to go with waiting this round.

If the price retreats to a suitable level, I might consider pyramiding again.

Brightoil (933.hk) - Going up

Having bought at $1.97, the stock is halfway to my initial target of $2.50.

Indicators (EMA ↑ RSI ↑ OBV ↑ MACD ↑) still indicate that trend has yet to change.

I would have pyramided this position now, but with the current exposure to 2728.hk, I think I'll be cutting it a bit too close.