Cango Inc. provides an automotive transaction service platform which connects dealers, financial institutions, car buyers and other industry participants primarily in China. It offer automotive financing services which include facilitating financing transactions from financial institutions to car buyers; automotive transactions between automotive wholesalers, dealers, car buyers and after-market services to car buyers. Cango Inc. is headquartered in Shanghai, the People's Republic of China.
Analysis/Commentary
Despite down trend in price since my last post on this I remain bullish on a push to the three target zones during the remainder of the quarter.
Like any trader I don not always get it right and I'm showing my entry with the RED horizontal line.
Based on the study of the previous quarterly earnings reports and subsequent price moves:
- Current quarter has given downward trend, indicating my initial forecast to be incorrect
- Strong EPS and Sales Growth Y-on-Y
- Application of Heiken Ashi signals now confirms price turning into bullish signals
- Slow and Fast MACD reconfirming this with crossover on slow and divergence on fast
- Expectation for the price to move to T1,2,3 area
- Trailing stop-loss on price above T1
PLEASE LIKE & COMMENT.
GOOD LUCK.
DO YOUR OWN RESEARCH!
Analysis/Commentary
Despite down trend in price since my last post on this I remain bullish on a push to the three target zones during the remainder of the quarter.
Like any trader I don not always get it right and I'm showing my entry with the RED horizontal line.
Based on the study of the previous quarterly earnings reports and subsequent price moves:
- Current quarter has given downward trend, indicating my initial forecast to be incorrect
- Strong EPS and Sales Growth Y-on-Y
- Application of Heiken Ashi signals now confirms price turning into bullish signals
- Slow and Fast MACD reconfirming this with crossover on slow and divergence on fast
- Expectation for the price to move to T1,2,3 area
- Trailing stop-loss on price above T1
PLEASE LIKE & COMMENT.
GOOD LUCK.
DO YOUR OWN RESEARCH!