Chapter 589: It will fall below 7.66 yuan

Although they didn't say this, their hearts were pounding, and their eyes were glued to the computer screen, waiting to see if the price would go lower and lower over time.

And Zhang Shaohui has been sitting in front of the computer without saying a word since the opening of the market at 9:30, staring at the computer screen as if no one was around.

Compared with several other people in the house, only the stock of Liugong Machinery in his hand opened today and continued to rise, and the price of this stock has risen to 9.50 yuan at this time, an increase of 8.82%.

He thought to himself: The momentum of this stock is really like what Li Xin said yesterday, and it is possible to continuously pull up the price limit.

The stock, which had been trapped for a long time, rose close to two price limits in two days, which made him very happy.

His current psychology is the same as that of Wang Minghui and Wang Haoqiang: he is worried about whether the stock will rise and fall back after yesterday's and today's sharp rise, if so, he will not sell at today's high, and yesterday's and today's gains may be gone again in a blink of an eye.

So he, like Wang Haoqiang and Wang Minghui, was pounding, and his head was quickly calculating whether he wanted to sell at a high price, and then pick it up again in the process of the stock falling, so that he could fight a little difference and spread the cost.

But now he wants to sell at a high price and is reluctant, because now the rise of this stock is only 1.18% from the price limit, if he can quickly rush to the price limit board to seal, then he will be reassured, and it will continue to rise tomorrow, so now his psychology is more contradictory and more nervous than Wang Minghui and Wang Haoqiang, and his heart rate is the fastest among these people in the big room.

Li Xin bought the highest price on the stock of Liugong Machinery today at about 9.31 yuan, and the average transaction price is lower than this price, but now the price has risen to 9.50 yuan, and in less than half an hour, he has earned nearly two cents per share, and the 10 million shares he bought today have a profit of nearly 2 million yuan in a blink of an eye, and he is also very happy.

Because Li Xin bought Jingxi Coal Industry yesterday and Liugong Machinery bought today are both intended to hold shares for a long time, so his mood is not as nervous as a few other people, he knows the truth of putting a long line to catch a big fish, once these two stocks are bought, he will take at least a few months to half a year.

Just when the stock of Liugong Machinery was only one step away from the price limit, its upward momentum suddenly stopped.

At 9:56 a.m., the price of the stock rose to 9.53 yuan and then began to turn around and go down, and the price quickly retraced to 9.28 yuan in just two minutes, and the increase narrowed to 6.3%.

The psychology of wanting to win and being afraid of losing made Zhang Shaohui feel very nervous after the opening of the market this morning, watching the stock constantly fluctuate and rise, and his heart rate has been very fast. Now that he saw that the trend of this stock had appeared the kind of rush up and fall that he was most worried about, he was even more nervous: Do you want to sell it now? But now this position seems to be neither high nor low, if you sell it two minutes earlier, each stock can be sold at least 2 cents and 5 cents more, and just now I seem to have missed the best time to sell. But what if you don't sell it now, and it will fall even lower later?

Just when he was flustered and out of breath, the price of the stock began to rise from 9.28 yuan, and at 10:01, the price rose back to 9.40 yuan.

Zhang Shaohui, who was in a dilemma, began to hesitate again when he saw this situation: he should not wait longer to see if it could rise a little higher.

Zhang Shaohui was hesitating, and the tick line of this stock was also oscillating back and forth to seek direction.

At 10:02, the price of the stock began to fall from 9.40 yuan, and at 10:06, the stock price fell to 9.30 yuan.

Seeing this situation, Zhang Shaohui became nervous again. In his opinion, if the stock price can break through the intraday high of 9.53 yuan ten minutes ago, it means that the market will continue to rise, if it does not break through the previous intraday high of 9.53 yuan, then the subsequent trend will only get lower and lower.

Because after the stock started trading at 9:30 this morning, the tick line moved higher and higher until it hit an intraday high of $9.53.

However, after the pullback from the high point of 9.53 yuan, it rose again, but the highest price only rose to 9.40 yuan, which shows that today's upward rush has ended, and the next trend will be lower than one wave.

Zhang Shaohui just made this judgment, the trend on the time-sharing chart seems to be to verify his judgment, at 10:07, the stock price from 9.33 yuan began a wave of short but very rapid decline, a minute later at 10:08, the stock price fell to 9.20 yuan.

Zhang Shaohui immediately acted as if he had been pricked by a needle, and sold all the tens of thousands of Liugong Machinery shares he held at the latest price.

There is a reason why Zhang Shaohui is like a frightened bird today, and he hurriedly bought all the stocks in his hand when he saw a little wind and grass.

The tens of thousands of Liugong Machinery shares in his hand were bought at a price of 32.13 yuan on March 13 this year, and the highest price of this stock at the peak of the bull market last year was only 46.28 yuan.

If you look at it now, the price at which he bought it is quite high, quite outrageous.

However, in his opinion, there was a good technical reason for him to buy the stock at such a high position at that time.

Because the price of this stock at 32.13 yuan on March 13 this year is just the same as the low point of a wave of pullbacks during the bull market rise on November 13 last year. When he bought the stock, the price action fell to this level, and it just formed a W bottom pattern with the pullback low last year.

The W bottom is a very important pattern in the technical analysis of the stock market, once this double bottom is formed, the strength of the market rise is quite fierce, and its minimum upside is also the distance from this bottom to the previous high. That is, if this bottom holds, the stock bought at $32.13 should rise at least to the previous high of $46.28.

At that time, the market's view of the market trend was that the bull market hit a high of 6,100 points at the end of November last year, and after this wave of correction, it will rise again to a new high of 7,000 or even 8,000 points.

The market's view of the market as a whole is like this, coupled with the fact that the stock in his eyes has just formed a double-bottom pattern at present, so the margin of safety of buying this stock in this place should be very high. When he bought this stock at that time, just like Li Xin bought the stock of Liugong Machinery today, he was full of confidence.

But what happened next was completely different from what he thought.

The double bottom he expected had no support at all, and it was broken in an instant.

A few days after he bought the stock, the price of the stock had fallen below the $30 mark on March 17, reaching a minimum of $26.68.

Seeing the double bottom structure being broken, he once thought about leaving the market immediately, but his hesitant way of doing things made him lose this opportunity. The stock closed at $23.00 on April 2.

At this time, he was facing huge losses, and he had lost the confidence to stop out of the market, and was ready to continue to carry it.

Just when he made up his mind and was about to carry it to the death, the trend of this stock showed several movements that he regretted.

On May 20, the price of this stock rose from $22.50 to $32.25 after more than a month of volatility. This increase is not insignificant, and more importantly, if transaction fees are not taken into account, this price is enough to untie all the tens of thousands of shares he holds.

However, it is because the stock has risen above his cost line again from a relatively low position, and has broken through the suppression of the 60-day moving average. Zhang Shaohui saw the hope that the stock would continue to rise to 46.28 yuan at this time, so he did not quickly untie it at this price, but continued to hold the stock and wait, hoping that the stock price would continue to rise to 46 yuan, and he would only appear when he could make more profits.

But the next trend disappointed him for the second time.

On May 22, the closing price of the stock fell to $29.60. Zhang Shaohui's tens of thousands of shares of Liugong Machinery are once again facing a big floating loss. Seeing that the closing price at this time was still above the green 60 moving average, he still had a glimmer of hope in his heart: the price of this stock is likely to continue to rise after stepping back on the support of the 60 moving average, so he still chooses to continue to hold the stock and wait.

But the next trend appeared that he did not want to see.

Liugong Machinery's stock fell to $27.15 three days later, falling below the support of the 60-day moving average. Then the stock continued to fall, and on July 2, the lowest price of the stock fell to $17.20. At this time, according to Zhang Shaohui's purchase price, this stock has almost been cut in half so far.

At this time, Zhang Shaohui began to deeply regret for the first time that he did not take the opportunity to leave the scene on May 20.

If you don't hesitate to leave the market at that point, and now buy this stock again at a price of about 17 yuan, then the number of shares you hold can almost double.

On July 2, the lowest price of this stock fell to 17.20 yuan, but just a few days later, the highest price of this stock rose to 22.07 yuan on July 10, and in just 5 trading days, each stock rose by nearly 5 yuan.