This stock is showing interesting characteristics since Sep. It makes a new high and then retraces back in 2-4 waves back to its support in the 78-80 area. It retests it every time even to break the support it time but then surges back up to challenge or to break the previous high back again.
currently it is in the downward swing but that can be attributed to the poor performance of the US stock maket over the previous two days. this weeks going to be fairly interesting to see whether investors keep selling it or help resume its upward trend from Monday.
Going Long under consolidation.
I would atleast like QihU to come to 80-82 range and test the support twice to buy the stock.
Buy at : 78-80 level.
Stop Loss at: 70
Target Profit 1: 94
Target Profit 2 (if planning to hold for long term): 118
markets.ft.com/...heets/Forecasts?s=QIHU:NYQ...
currently it is in the downward swing but that can be attributed to the poor performance of the US stock maket over the previous two days. this weeks going to be fairly interesting to see whether investors keep selling it or help resume its upward trend from Monday.
Going Long under consolidation.
I would atleast like QihU to come to 80-82 range and test the support twice to buy the stock.
Buy at : 78-80 level.
Stop Loss at: 70
Target Profit 1: 94
Target Profit 2 (if planning to hold for long term): 118
markets.ft.com/...heets/Forecasts?s=QIHU:NYQ...