25th & 26th Apr, I conducted a class. We reviewed some stocks on Sunday, and OSIM is one of the stock that we have discussed.
The Sunday review made me bullish on OSIM. Reviewing them out loud in front of the group went much more slowly that working home alone.

Let’s take a look…

OSIM daily chart was showing consolidation for the past 2 weeks. The MACD on the daily chart looked very attractive (ticking up). The bullish signal supported my decision to buy.

OSIM opened sluggish and my trade planned is to enter when OSIM price move up to 1.915.

Why I want to buy when price start to move? Simply because I am a momentum trader.

At 3pm, OSIM started to move, I managed to buy OSIM at $1.91 before it took off and it exploded to $1.98 at the end of the day. I saw much evidence of strength and continued to hold.

On Wednesday, OSIM made a new high of $2.08 but its daily range diminished.

On the next following day, I saw that OSIM instead of continue to rally has stalled. There is a supply zone at $2.06/$2.07. I took profit at $2.05 (day high was $2.06).

Before taking profits in OSIM, I considered holding it longer, as my initial price target was $2.10.

I decided to sell on Thursday because 'easy money' has already been earned, and I didn't feel comfortable holding longer-term in this nervous OSIM as result earning is coming.

That decision turned out to be correct, OSIM plunged to $1.62 when they announced their result.

My OSIM trade was also discussed in Facebook Group, SGX Technical Analysis and Fundamental Analysis Group.

Talk to you soon,

Divergence Trader

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