Hello everybody. This is AK. I'm back.
So today is polling day and uh we're having a thunderstorm. Uh so I guess I'll be going to the polling station a little later. Um anyway, for us Singaporeans, please remember, go and vote, right?
Um but of course, I'm not talking about I'm not going to talk about politics uh in the video, right? I try to stay clear of politics if I can unless it has something to do with the CPF. Yeah.
So, um update market update uh on my recent purchases uh uh my recent purchase of OCBC uh at under $15 per share. Actually, they're not so recent anymore, right? But okay, my last purchase of OCBC shares under $15 per share uh has turned out quite well.
I mean, it's gone XD, so I'm getting the dividend. And at the same time, the share price is still well above $15 per share. The last time uh the last I checked.
Let me take a quick look. Uh what price is it now? Uh oh, yeah, it's actually well above $16.
It's $16. 17. $16.
17 per share. So, got the dividend and uh nice capital gains as well. paper gain, right?
Uh but still a gain. Um as for Alibaba, share price has gone up as well from my last purchase. My last purchase was $363 SDR price, right, per share.
And uh so that's a fact 13% gain. And of course, um, the lowest price I paid in the recent market depression or market panic was $3. 38 SDR price per share.
And uh, that's up about 22% on paper, right? So back then I made videos about how we should stay calm and buy stocks that we have been looking at and uh which we uh have uh great conviction in um and we should be buying. Uh so that turned out pretty well.
Uh so for people who didn't buy back then is it still a good time to buy now? Well, um I can't say whether it is definitely a good time to buy, but I did make a video. In fact, it was my last video on Alibaba, my previous video that said uh Alibaba was still cheap, right?
And uh even though the share price has uh broken out of uh resistance uh in the last session, which was just yesterday. Uh, right. It broke out resistance and it closed at um what SDR price of $4.
13 per share. So, it's no longer under $4 a share. Now, it's now $4.
13 per share. Uh, or and in Hong Kong, it was in Hong Kong $122 per share. So, it's broken out of $120 Hong Kong dollars per share.
So, that's a that's a key resistance level. Um, so now we could see price going back to uh test it uh high uh recent high on not so recent high right now will be $140 uh Hong Kong dollars per share would be the next target. Um so am I going to buy more now?
Uh well, looking at the charts, you know, in my last video, I said I was accumulating between the $100 to $110 or $112 Hong Kong dollars per share. Uh there was an accumulation zone. Uh I think that zone is over for now.
The new support uh from what I can see is probably the 50 days moving average. Uh which is uh 50 days moving average. I'm looking at the exponential moving average.
EMA which is around Hong Kong 115 115 Hong Kong dollars uh per share. So we're talking about uh how much now it's 122. So $7 decline from 122.
You're talking about a possible uh five or 6% uh pullback. uh if I mean like I say technical analysis shows us where supports and resistance levels are but it doesn't tell us whether they'll be tested but if this uh new support provided by the 50 days moving average should be supported uh should be tested then um we could see a five to 6% pullback from the current price right and that would be a nice price to buy more I uh That's what I would do um to add to my position. Uh because um if it retests the support and it bounces higher, right, we could see that forming a nice base to test um to go to the next resistance level of 140 uh Hong Kong dollars per share, right?
So uh personally I'm not adding um at this point uh because uh I would I would like to add uh uh more if uh the support should be uh tested uh shall be a retracement to support right but if I were to buy more um at least I want to see a pull back say to 118 Hong Kong dollars which is where I see an intermediate support. So, um we are talking about a possible like three 3% pullback from here, right? So, if there's a 3% pullback in price, if I get some money coming in, uh I might buy some again, right?
But like I said, 115 Hong Kong dollars per share is where uh I'll probably be adding to my position, you know? So, that's all for this video. Have a good weekend.
If AK can do it, so can you. Bye-bye.
