I recently overheard a couple of guys discussing investments and stocks at the gym, and one of them told the other to buy "Yes Bank" as it is apparently at a good valuation right now.
My take on it?
Maybe. Maybe it is available at a so called "discount". But it had also gone down from 400 to 5. Almost 98.5% down from all time highs. Which means it has a lot of investors who are trapped and are just waiting in a little bit of price appreciation and they WILL sell it away. Multiple resistance zones since it has fallen down SO MUCH.
Don't we have better stocks out there in the market, with better probability setups? Don't we have better stocks out there, with stronger momentum potential and very less resistances?
YES WE DO. Then why take a beaten down stock?
Beats me.
My take on it?
Maybe. Maybe it is available at a so called "discount". But it had also gone down from 400 to 5. Almost 98.5% down from all time highs. Which means it has a lot of investors who are trapped and are just waiting in a little bit of price appreciation and they WILL sell it away. Multiple resistance zones since it has fallen down SO MUCH.
Don't we have better stocks out there in the market, with better probability setups? Don't we have better stocks out there, with stronger momentum potential and very less resistances?
YES WE DO. Then why take a beaten down stock?
Beats me.