This is my first time to speculate a stock. Maybe more appropriate to say that it is more like a trading. As I refer to ICAP's technical analysis ("TA") announced last Friday that the share price is on the verge of moving upwards with a target price at RM5.70 (according to my observation upon ICAP's TA recommendation which could be realised within 2 weeks to 1 month period).
As a result, I decided to put a little money to test whether ICAP's TA is as accurate as its fundamental analysis. I have bought Parkson at last Monday (20-July-2009) with a cost price of RM5.1 for 1,000 units. My target price is as suggested by ICAP at RM5.70 (this indicates an internal rate of return at around 10%). And I have set a 5% cut loss point at RM4.85.
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