I've learnt from personal experience that it never pays to buy stocks that gap down in price. A stock like NHC has been significantly re-rated by the market. We can also infer that institutional fund manager support has now weakened.
Gaps occur after news releases, or broker downgrades. It is more common for a strong stage 2 stock to gap up on news. Conversely, with weak stage 4 stocks trading below a 200-day moving average, price will more likely gap down.
The key to successful stock market investing is to have no emotional attachment to any company. This enables no quibbling when a trailing stop loss exit needs to be implemented. There are too many strongly trending stage 2 companies to bother over having to exit one stock. I maintain a watchlist of strong stocks as potential buys for immediate use just in case one of my portfolio stocks like NHC fails me badly.
An NHC exit just below $4 is excellent. In hindsight I should have acted on the first day plunge, but instead waited until the next day.
The two technical stock advisory firms I am subscribed to have exited NHC.
If anyone needs to know my current portfolio, it is included in the My Watchlist page at:
https://hotcopper.com.au/account/stage-2-uptrend.395760/
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Last
$4.73 |
Change
-0.140(2.87%) |
Mkt cap ! $3.905B |
Open | High | Low | Value | Volume |
$4.90 | $4.90 | $4.73 | $8.225M | 1.725M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 38618 | $4.73 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$4.75 | 2375 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 79299 | 3.030 |
21 | 168806 | 3.020 |
13 | 148258 | 3.010 |
11 | 81121 | 3.000 |
5 | 26338 | 2.990 |
Price($) | Vol. | No. |
---|---|---|
3.040 | 43989 | 3 |
3.050 | 80005 | 5 |
3.060 | 78197 | 4 |
3.070 | 73070 | 5 |
3.080 | 30108 | 3 |
Last trade - 16.10pm 25/11/2024 (20 minute delay) ? |
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