Another Tencent back investment , read about Yeahka here.
The support at 16.64 is crucial as it will determine whether the price will continue to trend higher or heads south if it breaks down.
Thus, if I have to take a quick short term trade , I would wait for the price action to settle at this level before deciding.
This is a symmetrical triangle pattern which means it can break up or down. And it need not reach the apex of the triangle before it breaks out.
If you have not read about my views on buying IPO, please do so here.
Note that just because it is backed by a strong company like Tencents does not mean that it will be bullish. It might be after some time so the entry timing becomes crucial. You can bet on its growth story as an early adopter and buy at IPO price thereabout or wait for it to prove itself with increasing sales, net income, market acceptance, etc.
Again, no right or wrong, just investors' preferences and style.
The support at 16.64 is crucial as it will determine whether the price will continue to trend higher or heads south if it breaks down.
Thus, if I have to take a quick short term trade , I would wait for the price action to settle at this level before deciding.
This is a symmetrical triangle pattern which means it can break up or down. And it need not reach the apex of the triangle before it breaks out.
If you have not read about my views on buying IPO, please do so here.
Note that just because it is backed by a strong company like Tencents does not mean that it will be bullish. It might be after some time so the entry timing becomes crucial. You can bet on its growth story as an early adopter and buy at IPO price thereabout or wait for it to prove itself with increasing sales, net income, market acceptance, etc.
Again, no right or wrong, just investors' preferences and style.
Comment:
17.06 was a good entry point
Comment:
Praise the Lord. Did you make more than 4 dollars profits on it ?
Comment:
Halleujah......this stock is on a tear
Comment:
I urge those who had longed this stock to take some partial profits and adjust your SL accordingly.
Comment:
😮,another 16% jump today!!!!!
