Breakout Play 3: $LAND

Last week was a terrible week. PSEi succumbed to profit taking since August 08, 2017. Most of the stocks on my watchlist was down pretty bad. The worst part was, the stock I held during that time went south too. I lost big time with $CEI. After cutting losses on August 09, 2017, I took a break from trading and started meditating to calm my mind and flushed those unhealthy emotions that we get after experiencing a loss. While meditating, I realized that it was a great opportunity for spotting a potential strong winner. On that same day, I then proceeded to observe stocks that were the least affected by the bloodbath. Saw a couple of strong ones and they are the following (in no particular order):

• $ROCK
• $CDC
• $LAND

I'm more into property stocks because I believe this is the strongest sector so far.

During the first hour of trading on August 10, 2017, the volume of $LAND almost hit the average line and its price was up despite the PSEi suffered from profit taking. I believed that if the PSEi was not suffering from profit taking, $LAND would have broke out from its cup and handle formation. So I decided to buy $LAND with half of my capital, thinking that it will break out soon in the coming days.

On August 11, 2017, the PSEi continued its bloodbath. It was the worst bloodbath. Almost all stocks were down very bad. Huge red candles were everywhere, except for my top 3 stocks. $LAND dropped to a low of 1.21/share, but it was a small drop, so I decided to spend my remaining capital on $LAND to lower my average price. I managed to buy it for 1.22/share. On that same day, $LAND closed higher to 1.25/share with above-average volume. It showed a remarkable strength, which cemented my belief that the breakout is near.

The next trading day, August 14, 2017, $LAND skyrocketed while the PSEi was, fortunately, trading up. It did break out and the current exit price, which is 1.31/share, is now above my average price. Gains secured.