Failed forming potential inverse head and shoulder pattern. Expect this stock to further consolidate within the box. Short term trend is very bearish, won't surprise it will further break below current levels to test $6 or $5.
Mr.Yu Gong, founder, director, and CEO of iQIYI, commented the Q3 performance was a 'softer than expected top-line performance'.
According to iQIYI's financial announcement for the third quarter of 2021:
- The total revenues achieved CNY 7.6 billion (USD 1.2 billion), showing a 6% increase from the same period last year.
- The operating loss was CNY 1.4 billion...
Forming potential inverse head and shoulder pattern. Need to wait, as right should is still in formation. Once it breaches S10.35 level, it will breakout to $13.43 quickly. Mostly it will hit these levels by Dec 2021 to Feb 2022.
IQ is the "youtube" of China.
Last Quarter, they said it expects third quarter revenue of $1.18 billion to $1.25 billion.
The daily chart is a bottoming pattern, similar to $VIPS I just posted.
The POC is $15, I am looking .618 retrace to $11.95
Options - Its fairly even with put call ratio at .97, with $9.5 call and 8.5 put with largest OI
This chinese stock looks interesting here.
Long term falling wedge which seems to be reversing with an ascending triangle at the base.
Short term downward channel that looks ready to break.
Price looks to be taking over the 50 ma.
Bullish divergence with RSI.
This is risky, DYOR.
Tight stop loss if entering needed imo.
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iQIYI, Inc. engages in the provision of internet video streaming services. It operates a smart television streaming service and an entertainment-based social media platform, iQIYI Paopao. The firm also also distribute video content through third-party platforms. The company was founded by Yu Gong in November 2009 and is headquartered in Haidan District, China.
China's online entertainment service company iQIYI released its unaudited Q2 2021 financial results on August 12. The revenue growth was rather unimpressive, while the company has been implementing strategies around expanding market presence, diversifying content, and securing a larger user base in light of future growth.
iQiyi (IQ:NASDAQ) is an online...
IQ has fallen well below the support of $16. The current formation I'm playing is a falling wedge pattern. Will be looking for a breakout in the following weeks. This could also be an upside down head and shoulder. The potential left should was printed a few weeks ago. It is currently working on printing the head. Let's see how this plays out.
Owing to the success of original TV dramas, the large Internet content company still maintains remarkable revenue in the off-season.
On August 12, 2021, iQIYI published the unaudited financial report for the second quarter of 2021. In the second quarter of 2021, its total revenue reached CNY 7.6 billion, up 3% year over year. Among them, the revenue from member...
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What does IQ company do?
It operates a platform that provides a collection of internet video content, including professionally-produced content licensed from professional content providers and self-produced content. The company also provides membership, content distribution, and online advertising services.
This looks way oversold, potential run up.
Technical Signs:
RSI/MFI: Bullish divergence compared to the last drop.
Bollinger bands: At bottom end (on 4h), looks like a potential rip to the middle.
Fibonacci: 23.6% is at the top end of the range.
PT: $15-$16
Stocks I am watching this week for a possible swing. Thinking about posting a daytrading watchlist but I contstantly add and remove tickers.
Not financial advice just my opinion.
$IQ The Chinese Netflix, basing here most likely will go back to test the highs, been trading in these ranges for years now. #LEAP #OptionsTrading #NFLX #StocksToWatch
