Many small-cap stocks rose crazily these days, so its time to find any chance to make profits in short period. I found today a good small-cap stock: 1229.HK China Sonangol
This stock surged over 10% yesterday, and you might feel bad with it. But I do think the boost creates opportunity for it to climb even higher.
Let's check the daily chart of 1229.HK
Clearly, the price was brought to the resistance level 1.688 yesterday, and it is now critical time on confirming whether it would break or not. If the price breaks this level, theoretically the next resistant is at 1.827.
However, I would predict a further break up to around 2.2.
On 22-Sept, the price went up to as high as 1.80. Then due to strong selling power, it could no longer stay there and plunged. Clearly corporate investors were trying to test the resisting power at that level due to the shares bought by retail investors in June to August. If they are not going to lift the price, they would not have such action.
And these two days the volume was surprisingly high. The price broke all the 10,20,50-moving averages with only two candles, and together with the high volume, the momentum for this stock is large. This would definitely enhance the rise of the stock.
Therefore, if the price breaks 1.688 tomorrow, it has great potential to give you more than 15% in few days.
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