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Doosan Stock Gains 81%! - Sell Point and Technical Analysis
ð The most important thing about investing in stocks is knowing when to sell, not just when to buy. Today, I end this blog with an 81% profit on Doosan stock. (Strictly speaking, the profit is a little less than 81%, because I bought at the knee and sold at the elbow)
## Doosan stock price flow and investment process
The sixth and final blog is the final drama. From 01 to 05, the reader can become a forensic tracker, like a frog recalling its tadpole days.
Anyway.
Doosan was a stock I considered buying at the beginning of this blog at around 220,000 won. At the time, my rule of thumb was not to chase the stock, but to buy when it corrected. As expected, the price fell, and I recommended buying at around 180,000 won. However, the price actually dropped to 185,000 won and then surged, eventually reaching 335,000 won (up 81.08%).
## Sell Point Analysis - Based on Technical Analysis
When it comes to selling a stock, you should practice the opposite of the buying principle. If you're not trading on a gut feeling, quantitative and quantitative analysis using charts is essential. In this case, we used a double top pattern and chart signals to determine when to sell Doosan stock.
ðđ Monthly candlestick chart analysis
- The January candle formed an Inverted Hammer with a long white body.
- The February candle formed the opposite pattern, a Hammer.
- This is a sign of a possible inflection point.
ðđ Daily chart analysis
- The resistance zone of the Trend Line and Gap has formed.
- This is an important moment to time a sell
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ðđ 60-minute chart analysis
- There is a possibility of a breakout, but I chose to take profit after realising 81% profit.
## Wrapping up - What matters in investing
At the end of this blog, I have locked in 81% profit on Doosan stock. In investing, the timing of selling is more important than buying. By using chart analysis to make logical investments, you can avoid impulsive trading and maximise your profits.
It's time to submit my book manuscript to a publisher! I'll be back with more informative investment stories in the next blog. ð
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