StockyAndrew

(SWING) CMCM

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NYSE:CMCM   Cheetah Mobile Inc.
Been on a good run pre earnings, and jumped 6$ after earnings release after beating estimates. As expected a exhaust period is in play pulling back. Key low volume on pullback and worked off overbought stochastic. The DMAs are still quite far off so I think 38% of the fib retracement could be the support here. Missed the bounce off it the previous last 2 days so will only enter if we can get close to 31.0 again, with a stop at 30.50 and a target at 35.00. This would leave a potential 50c risk to 4$ reward

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