- November 2, 2020
- Posted by: virtualxstore
- Category: trading
Lufax was one of them , listed last Friday and a follower asked for my comments. The potential of their business is BIG, imo but it will takes time to ramp up. Currently, their focus is still in China as they know competition will enter soon if they do not take up a large market share. Look at gaming industry ; there are so many players but Tencent has managed to take up a large market share, building up its brand profile over the years.
Lufax has too short a history in terms of price action for me to chart. As you can see, I am already narrowing down to a 15min chart and I am not interested in trading this way. While there lies a possibility of the price to break out of the bearish trend looking at the candles pattern, the short term volatility remains a risk and for that , I am not comfortable.
12.64 acting as the support is also deem temporary at this stage as price action are still forming in process…….
So, like most IPOs , I will stay out for the time being until more data is available. Believe me, there is no loss in waiting and there lies plenty of opportunities if one bothers to look (often, it is not too far away from you)