Asiaphos- Up 10% and close to our target during intraday high
Asiaphos, which we shared on the blog just yesterday, had more than a 10% run up today during its intraday high of 0.118 which was very close to our target of 0.120. We hope some profits were booked , it had a wide swing through the day closing at 0.103 which was slightly below yesterday close of 0.104, before Asiaphos asked for a trading halt.
Some News were released just this evening , more can be read here. The News does not seems that good so let us see how it trades on Monday where the trading halt will be lifted in the morning.
Remember we did say that trading such penny stock will be very volatile , hence ensure proper stop loss and appropriate position sizing is VERY Important for risk management.
Want to know more on how to trade such a stock. Do drop us an email and we’ll be glad to share like how we share with our clients.
As for its chart , if it breaks below the 0.105 resistance level now turned support level , the stock may fall back to the next support level of 0.095 follow by 0.086 and 0.079 as the next 2 possible support levels.