We made a quick almost 50% gain in CloudMD Software which we bought a week ago
, selling it during the final minutes of trading this afternoon – if you weren’t fast enough don’t worry, because you may get an even better price in the early trade tomorrow morning. However, you should aim to get out as soon as possible because after today’s extremely heavy record-by-far volume, the chances are high that it will burn out very soon.
The reasons for taking profits are set out on the latest 5-month chart below. One reason isn’t shown, which is the quite heavy resistance above this level arising from trading above this level during the latter part of 2018 and the earlier part of 2019, that can be seen to advantage on a 2-year chart.
This stock remains in a bullmarket and we will be on the lookout for a chance to buy it back later after a correction or a healthy period of consolidation.
CloudMD Software & Services Inc, DOC.CSX, DOCRF on OTC, closed at C$0.75, $0.516 on 27th April 20.
Posted at 5.50 pm EDT on 27th April 20.