Also known as Ctrip in China , this is one stock that I like a lot.
There are millions and millions of Chinese each year that are getting richer and are eager to see the world but first China. That means, those in 3rd tier wants to come to 1st tier and those rich enough in 1st tier are getting out of the country even more than before. This rate of outbound travel will not likely stop due to the slow down of China economy.
In fact, when one is stressed, lost job, whatever, taking a trip seems like the logical thing to do, isn't it?
Read this article : jingtravel.com/revie...avel-market-h1-2019/
www.scmp.com/tech/ar...onal-markets-tripcom
There are millions and millions of Chinese each year that are getting richer and are eager to see the world but first China. That means, those in 3rd tier wants to come to 1st tier and those rich enough in 1st tier are getting out of the country even more than before. This rate of outbound travel will not likely stop due to the slow down of China economy.
In fact, when one is stressed, lost job, whatever, taking a trip seems like the logical thing to do, isn't it?
Read this article : jingtravel.com/revie...avel-market-h1-2019/
www.scmp.com/tech/ar...onal-markets-tripcom
Comment:
32 was a good entry point as it breaks out of the long awaited wedge pattern. As China becomes more open and welcoming foreign direct investment, tourism business , be it international or domestic remain a good business. Though it is much affected by the Covid -19 pandemic, this too will pass. I like to buy some more at current price to wait out the tide to bring it higher.
Comment:
The revenge travel will cause this stock to rally.....
Comment:
watch this current level where it met its resistance in July 2019, four years ago......a pullback to 36-38 price level would be a good entry point for accumulation.