So today I thought I’d share some positive news about a share I purchased only 7 weeks ago!
UK AIM stock AB Dynamics is a share that has been sat month after month with a RSI value of over 68 so in a good position of strength. The share though had not move in any direction for 8 months. However when it broke out of the 8 month range I wrote how this one was a swimmer and I was going in on it as a main share to my portfolio.
7 weeks later the share grew my position by 40% and I sold it yesterday.
Why sell now?
- I’m not greedy, I normally look for 30% growth in my main shares so I felt it was time to take the money and run!
- I don’t feel I’m done with this share. The chart is still really positive and right across 1 day, weekly and monthly the RSI values are off the scale!
- I feel now the share needs a rest period and looking how this exploded over the last 7 weeks that rest period will probably be short.
As I’ve said before these are my opinions!