$FNI was formerly CMT and one of my first stock. This stock taught me a lot of things like:
- Don’t trust what the GURU / Master / even Recommendation by your Brokerage is telling you. you must always do your due diligence.
- Don’t be greedy. profit is profit. Don’t wait for the target price to be reached in rarely does.
- Cutloss: it’s painful but you need to do it to save your capital and use whatever is left to transfer to some winning Stocks (During that time my wining stocks are DD, ANI, LIB)
- Teach other people so that they would minimize their losses
Anyways about the stock.
FNI is a Mining Copmany: they extract Nickel in Mindanao and soon in Palawan area.
if you look at it there are signs in terms of volume when this stock is about to go up, I have encircled it with red on the graph above. Currently this stock might still go up based on its cycle that every end of year the stock goes up and then goes down 1st quarter of the succeeding year. If I don’t have volume now at the current price i wouldn’t play this stock. It might go up but i might not be able to sell it at a profit that I like. Stochastic as well is showing a down trend or a sell signal.
Things to Consider:
Resistance: Php 4.22
Support 1: Php 3.01
Support 2: Php 2.44
Take Profit or Cut loss: Php 3.27
Have your Own Strategy this is just my opinion