in my (educated) opinion, charts on a stock that is this iliquid mean nothing. This thing trades a 10~20% range each month, and that makes it a GREAT trading stock. It may go below 98, but as a trader that is OK, as I will readjust positions to average the price.
I reckon the trick with a stock like this (unless 'investing') is to enter with about 25% of what you are happy to hold. That for me is 150 shares. So, I will pick a level, say 105.80 to enter and put a standing sell order in above. Most times I will get that sell order filled quickly and will take profit. If it falls further I will buy another 150 shares, and then reduce my sell orders to reflect the adjusted average buy price. Further fall will get me in again, so I now have 75% of what I am comfortable with as a 'trade'.
When this moves to the upside it is swift, so I have in the past bought under 105 average and sold above 112 average within a week.
Not for everyone, but a good earner if you are a trader and are disciplined.
Happy hunting
BKL Price at posting:
$103.50 Sentiment: Buy Disclosure: Held
