To The Moon

$TITOMIC LTD(TTT.AU)$ Fortune rewards the patience. I have shared this company a couple of times over last year. See the first position that I had established in the second figure below around Sep last year. It was a weekly chart, so you can see the activities prior to the initial move. 

The 3rd chart is a daily chart taken today. On the leftmost of the primary chart was that initial position. I have since averaged "up" from there... yup, averaging upwards is perhaps not a concept familiar to many users in 🐯. People are used to averaging down. 

The concept of averaging up might seem strange and deviates from human's idea of buying a "bargain ". It's not our nature to spend more on something if we had previously got the same thing for a lower price. However, it is an idea that you could perhaps try out. 

Buying higher from the initial entry price is a confirmation that our initial investment idea was correct. We could be able to pick the right company or counter, but it is always a challenge to time the market or pick the right time. It is normal not to throw all "in" at the first instance for a new investment. The idea is to take an initial position and ADD ON if we are correct. On the contrary, if we are wrong, we can cut loss and move on... waiting for the next opportunity to invest. 

On the other hand, if we initiate a position and started averaging down when the price moves against us, there might be too much element of our ego at play. The lower the price goes, the more we buy, thinking that we are getting something cheaper... till it doesn't... think about it, how many times have we land ourselves into a "path of no return", just because we refuse to acknowledge that we were wrong in the first place! I have done that far too often, even though I am a TA guy and know very well that trend is our friend... going against it is hardly the best piece of business. [Spurting]  [Facepalm]  [Glance]  [Cry]  

I have practice more of averaging up and I think it is a good habit to cultivate. Titomic, together with $AML3D LTD(AL3.AU)$ have been one of my favourites in the defence save for sometime and I had written about them last year. $Kratos Defense & Security Solutions(KTOS)$ and$DRONESHIELD LTD(DRO.AU)$ are total different animals in the same defence space. I have been patiently adding them to my portfolio and accumulating them whenever TA dictates them.

For example, BOLL in Titomic indicates a possible strained pricing, a resistance line at 30 cents indicates as much. However, from  RSI viewpoint, this company is not overbought. Patient investors could nevertheless wait for an eventual pullback to enter a new position. The chart indicators are good. It is in an uptrend. Just as shown in the daily chart, the price raises, pull back; the typical 🐂 process repeats itself.

Another tip, revisit $AML3D LTD(AL3.AU)$ It is in consolidation phase. If Titomic is any gauge, I would expect the same thing to happen over there... brace yourselves and enjoy the ride...

@CaptainTiger @TigerStars 

Diverge a little for @Barcode who happens to be enjoying herself in Australia at this very moment  Red 🍍 anyone? [Happy]  [Grin]  [LOL]  [Chuckle]  ASX companies are not bad too! What do you think? [Evil]  [Thinking]  [Onlooker]  [Great]  [Cool]