Sold off Comfortdelgro today.
I had it on queue since the morning and finally sold off the entire holdings at $2.5. I was contemplating not selling at all, as given my buy price I was looking at a 5% dividend yield. But at the same time, I also knew that that markets are fickle and the flavor this month can easily turn sour quickly.
For me, I decided to sell because the counter had reached its upper bound resistance level and was dithering at that level. However, this resistance was also broken today (oh well, that’s life). For now, from a momentum point of view, the counter is looking red hot. I think there is still potential for the counter till rise to $2.6, given that we have yet to see the benefits of all the recent acquisitions taken into consideration. However, I am not optimistic that it will be able to reverse its negative revenues so soon.
Comfortdelgro is definitely not the undervalued counter it was when I first bought it. Oh wells, time to move on to the next stock.