Observation: Enova (ENA) Might Be a Good One-Part 2

I've continued to follow Enova (ENA), and this seems to be an endless supply of opportunity to make money chunks.

My instincts would have been to buy a bunch at $1.47/share or so that I bought earlier (and later sold) and hold onto it for a while. Ultimately, this might be okay, but I would have missed on a TON of quick profit chunking opportunities.

I'm wondering whether certain stocks attract certain people who follow certain technical indicators. It sure seems like some stocks price patterns perfectly follow the MACD. Others follow the Slow Stochastic. Even if I'm right about this, I don't know how to identify it in advance. Therefore, I haven't figured a way to really profit from it.

Perhaps, it's a good idea to see a pattern established. Then ride the train. I don't have enough experience to know how risky this approach is, though.

Observation: Enova (ENA) Might Be a Good One

I am making a prediction.

Enova (ENA) might be a good money-making stock.

I don't know whether it is a good company. I suspect that they are speculative and have their hopes pinned on something that only might take hold.

So why do I think that it might be a good one?

Monitoring Post-Selling Movement from my First Test

Yesterday, I bought and sold Enova (ENA) for my first test using a technical indicator. For this, I used the RSI and Slow Stochastic. (Keep in mind...I'm not using very much money for my testing.)

I bought AND sold it yesterday for a nice little profit. I won't be able to retire from it. In fact, it really wouldn't even pay a day's worth of wages, but it was a nice result from a first test.

However, yesterday, I also mentioned that I would not usually sell things at that level.

I admit that the stock dropped a little. However, it's returned to the price level that made me sell yesterday. The Technical charts do NOT tell me to buy this.

I will keep you posted, but for now, my common sense--not the charts--are tingling like crazy.

This morning's price is $1.65 as of when I started writing this post

Continuing My First Test: Just Sold It

I didn't expect results THIS quickly, but Enova (EVA) jumped up around $0.20/share today.

I checked the RSI and the Slow Stochastics, and they BOTH SAID SELL. So I did.

I bought these shares at $1.48/share and sold them at $1.65/share. That's a little over a 10% profit in less than two (2) business days.

I'm curious how much further it will climb. I usually wouldn't have sold it so quickly.

My guess: It will drop a little but not enough to trigger another "buy" signal. However, I think it will keep rising after that quick drop.

I'll keep you posted.

Trying Something New: Trading Using Technical Indicators

I like to fancy myself as purely a fundamental trader. However, if I'm honest with myself, I probably use fundamental ratios to get me started, and I tend to time the market for the actual buy and sell points. Luckily, I seem to have a knack for "timing" the market since identifying patterns comes so easily for me. Numbers make it that much easier for me.

Don't get me wrong. Using "play" money, I've made mistakes. (Luckily for me, I haven't made too many mistakes with real money so far.)

Last week, I had just a little bit of money in my broker's account. So I decided to buy a speculative stock, which I've been watching for nearly a year now. I decided to use the RSI and Slow Stochastic indicators. Both of them told me it was probably time to buy Enova (ENA) @ $1.48/share. My pattern watching told me that this might not be THE lowest price, but at the time I bought it I figured that its price was closer to its near-term bottom than its top.

I'll keep you posted on how I do with this. Even if I win, I didn't invest/gamble enough for it to change my life. The good news is that if I lose, my life will be unaffected, still.

I want to keep track of this so I can get some practice using technical indicators.