UPDATE: QUDIAN INC - NYSE: $QD Continues To Grind Higher
Back on June 18th, we Profiled QUDIAN INC - NYSE:QD with the stock trading at the $7.50 level at that time and noted that it appeared that Buyers were perhaps becoming more aggressive with their purchases as the stock was grinding higher and registering higher lows and higher highs, which remains the case today as evidenced in the Daily chart above.
While QD printed a recent high just beneath the $9 level, we continue to witness the stock trading above all of its important moving averages 20/50/200 DMA's, which depicts a favorable technical posture as well as continuing to grind northward.
Although QD has yet to overcome and clear the $9 figure and Hold thus far, both investors/traders may want to continue to monitor the action closely in the days/weeks ahead for if QD can take-out the $9 figure and perhaps of more importance, clear the $9.15 level and 'stick', we believe that such development would likely trigger its next advance into our original/initial $10-$12 zone objective, for starters.
Nonetheless, we have a stock where once again Buyers appear to becoming more aggressive with their purchases. Furthermore, QD remains in fine technical shape across multiple time-frames Daily/Weekly/Monthly and in the process, riding within a channel that potentially suggests that once the upper boundaries are hurdled, its likely that higher prices are in the offing.
Thus, both investors/traders may want to (continue) put QD front-and-center on their radars seeking further clues/evidence of a potential northbound move in the making.
While QD printed a recent high just beneath the $9 level, we continue to witness the stock trading above all of its important moving averages 20/50/200 DMA's, which depicts a favorable technical posture as well as continuing to grind northward.
Although QD has yet to overcome and clear the $9 figure and Hold thus far, both investors/traders may want to continue to monitor the action closely in the days/weeks ahead for if QD can take-out the $9 figure and perhaps of more importance, clear the $9.15 level and 'stick', we believe that such development would likely trigger its next advance into our original/initial $10-$12 zone objective, for starters.
Nonetheless, we have a stock where once again Buyers appear to becoming more aggressive with their purchases. Furthermore, QD remains in fine technical shape across multiple time-frames Daily/Weekly/Monthly and in the process, riding within a channel that potentially suggests that once the upper boundaries are hurdled, its likely that higher prices are in the offing.
Thus, both investors/traders may want to (continue) put QD front-and-center on their radars seeking further clues/evidence of a potential northbound move in the making.
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We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/