I use IBD50 to identify promising stocks. This one is on the list and has been consolidating for several weeks. Broke out of consolidation range a bit this week and could be poised to run higher if the overall market cooperates.
Trading 42.49. Went long 40.22 500 shares per below triggers - Stoch RSI turn up (prior to alerts service). Holding. Stop at entry. Tight stop.
Good report helped keep the price. Breakup pattern on growth gives us a point to buy. In general, in my opinion, Chinese companies, especially Internet services, have a rather large growth potential. One, however, is alarming. Chinese stock market does not particularly want to grow
+ broke-out today on very high volume + trend intensity is bullish + head and shoulder pattern formed - 5ema is far at the bottom of today's bar; retracement towards 5ema upon break-out is possible
mix mature shorts with microcapn longs-use dynamic stop loss-balance of power negative-dmi negative-chat room and web site end of month
$ATHM recently closed this upper gap a hair more will be where previous supply is located.