Read my 28 Dec 2017 post on my accurate prediction of AEM
price movement: http://superphang.blogspot.sg/2017/12/when-will-aem-hit-my-current-target.html
I mentioned in the post that AEM investors will get an Angpao
two weeks before Chinese New Year and it is happening. It closed on 1 Feb 2018 at $5.50,
surging 10.66% after the company lifted its one-day trading halt with some announcements.
The climb was so steep that huge profit taking will bound to
happen. The transacted volume was high, and it will need to have an even greater
volume to sustain the momentum of uptrend or the latest price gap will have to
be covered soon.
AEM daily chart at
the close of 1 Feb 2018
As my current position in AEM, bought at $2.80 apiece, has been from house
money, I am relatively at ease to make my decision to hold AEM till it hits my
new target price of $6.35, corresponding to a forward p/e of 12x, unless the
chart can warn me of imminent danger ahead.
Superphang
Superphang
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