Biolidics Limited (SGX:8YY) +30.88% profit. Fast Up, Fast Down, Fast Out.

It was an unexpected profit to the portfolio, given the dire market we are currently experiencing due to the COVID-19 outbreak. But it is not uncommon for healthcare stocks to soar in this situation. It happened to Biolidics last week, as news have been spreading that the company successfully inks a US distribution deal for its Covid-19 test kits, I am glad that the system caught it at the early stage of the uptrend.

On 20th Apr 2020, the system gave a buy signal which I have informed my subscribers that I entered a position at 0.34.

The stock began a parabolic rise that pushed the price up to a high of 0.885, an insane gain of 160%!!! But it was short-lived. After the stock lifted from its halt on 23rd Apr, it plummeted more than 50% when some brokerage firms started to restrict buy/sell on the stock. The system gave a sell signal on the 24th Apr and I sold off at the end of the day at 0.445 for a profit +30.88%.

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It was a wild roller coaster ride. It was happening too fast. I did not managed to catch the top, but because the system managed to catch the trend early before the parabolic rise, I was able to bag a 30% profit within just 4 days. Not bad. It does not matter if the stock is going to rise again in the future. The system is probably done with this stock given the crazy volatility it is exhibiting.

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