I first spotted an opportunity in Yeahka when it IPO-ed in June. Saw a wedge pattern (Like 6969 Smoore and 909 Mingyuan Cloud ) and rode it all the way from $17+ till the $60 level.
Since then, the bubble popped and has been on a sustained downtrend till recently - prices have started to make higher lows indicating signs of an uptrend. Additionally, recent news of the company acquiring stakes in Beijing Chuangxingzhong Technologies shows Yeahka's commitment in expanding their business. Yeahka has also recently turned profitable with high expected growth rates in the future (PEG of 0.6x).
Already have a small position and will add to it if everything plays out as expected! (Half to trade and half to ride the trend)
**ARK has also started buying small portions of Yeahka recently. Although not a significant amount, it is a possible indication of confidence in the future of this company.
Since then, the bubble popped and has been on a sustained downtrend till recently - prices have started to make higher lows indicating signs of an uptrend. Additionally, recent news of the company acquiring stakes in Beijing Chuangxingzhong Technologies shows Yeahka's commitment in expanding their business. Yeahka has also recently turned profitable with high expected growth rates in the future (PEG of 0.6x).
Already have a small position and will add to it if everything plays out as expected! (Half to trade and half to ride the trend)
**ARK has also started buying small portions of Yeahka recently. Although not a significant amount, it is a possible indication of confidence in the future of this company.
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Added to my position for Yeahka! Lets see how far it can go.
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Saw Yeahka dip to as low as $40.45 this morning and took the opportunity to add even more to my position. Currently up 14% on this trade. Stay green and stay positive guys!
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Sold a third of my position @ $44.6. Seems like there is resistance at $45 because it pulled back immediately upon reaching that price level.