The euro dropped to a 19-month low against the dollar and is close to its lowest level in four years as confidence in Europe's ability to contain its fiscal problems wanes. Oil prices on Monday fell to their lowest point so far this year and are now down about 20 percent in just two weeks as investors worry about the ripple effects of a debt crisis in Europe.
There is fear in both equities and commodities market that economic weakness in Europe could spread and hurt the global recovery.
There are many Indonesia stocks that have deep dropped this time. The average decline of them were more than 10 %. Some of them were worth buying. HD Capital research recommended BKSL, ANTM, PGAS, BTEL and BUMI as stocks choice, according to inilah.com.
I want to talk about PGAS this time. On March 25, 2010, PGAS reached its peak price at 4,400. Then the stock moved down until now. On May 17, 2010, PGAS was opened at 3,750, then down to 2,650. It was closed at 2,700. PGAS was down 15,91 % in about 8 weeks. I traded it and got profit although Indonesia market’s dropped deeply.
Why do I want to talk about PGAS ? PGAS has been uptrend for long time. Therefore, it has been proved quiet save for long term investors. Several indicators have shown that PGAS is in very cheap price and it’s been oversold. It’s potentially reverse up anytime when market’s situation support it. It can provide bulk profit for long term investors. PGAS is almost meet a very strong support this time. If market’s situation oppose it, it won’t decrease very much. It means that this stock is good for traders, too. It will give decent short term profit for traders in a good situation. The capital of traders won’t be detain for long time, if it still decline. I choose PGAS because this stock is worth buying.
No comments:
Post a Comment