EDC Bought on 8/23 @ 4.88

Lots of stocks to pick from today, I didn't even know where to start.  Last night, I was looking into AP, a #2 on DS' pick of the week. AP's prices are currently below its EMA as it had a huge drop last 8/11.  Despite its current down trend, DS says its fundamentals are strong.  I hesitated to buy this morning because of a gap up on the opening prices. 

So I was scouring through the latest update on Tsupitero.com and I've decided to take on a blue chip stock this time.  EDC was on a buy on the dips.  However, at a previous close @4.89, resistance is already near @5.05 (support: 4.8).

At open, prices were playing at the 4.9 region and so I posted my bid @4.88 thinking there would only be a small dip.  I should've realized that the stock was still on the overbought region and it would consolidate soon.  As it turns out, I was too early to buy as the stock went to a low today closing @ 4.71.

chart from pse.com.ph

Note to self:
Never to be in a hurry in buying stocks at the open, especially when I have not studied it well.  I could have bought at a lower rate, probably 4.79 based on the previous drops EDC made (.11 drop last 8/19).  Besides, prices were already too high and away from the EMA.

As of 8/23:
close: 4.71
EMA: 4.71
RSI: 53.27
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I hope Tsupitero is right on this stock going to an up trend after this correction.  DS on the other hand is waiting to buy at 4.3.  3% cut loss level is at 4.73... hmmm, most likely I'll be holding this stock for long.