QuantifiedAlpha.com
Short

Quant Model Indicates 20-day Downside in BITA

NYSE:BITA   BITAUTO HLDGS LTD
22 0 1
Short-term Indicators:

+ Below all three (20-day, 50-day, and 200-day) moving averages . Academically proven short-term returns are going to weak moving forward.

+ Definitely oversold, but trend is just too weak to make up for that. Nevertheless, we don't think they will collapse at the same rate as before (-40% in 4 weeks).

+ Extremely high volatility amplifies the signal of our quantitative model, as technical analysis tends to be more predictive in chaotic stocks .

+ Likely price scenario of $37 to $42, with price target of $39.50 before earnings release next month.

Long-term Indicators:

+ Extremely expensive from sales basis
+ Weak price momentum
+ High short interest
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