alipipefitter
Long

Oversold Due To China News, and Being Driven By Traders

NASDAQ:CIFS   CHINA INTRNT NATNWIDE FINL SVCS INC
Love the stats and the story.

Short term swing.

It is being driven by speculators because it's a low float China stock. Went up too much in a short period of time, hence the big sell off. Also, this China tariff news probably spooked traders.

Net income is down 2 million, but general administrative expenses increased by a factor of 10. Plus, they are exploring the blockchain sector.

Like where it is on the fib also. Volume has also decreased relative to yesterday's sell off

Only buying 1/2 because it is on the way down. Holding other 1/2 in case it goes lower so I can either bump out or get a better average.



Comment: Better play was off the full move retrace. Duhh....Was in freefall, you know this, you've seen this. FOMO is strong young padawon, the dark side pulls you, must always be vigilant, must never let guard down
https://www.tradingview.com/chart/v9kutoKC/
https://finance.yahoo.com/news/china-internet-nationwide-financial-services-210000463.html?.tsrc=rss
Fidelity peer analysis also confirmed peers beaten down in same time, but earnings and growth solid.
+1 Reply
alipipefitter Pokethebear
@Pokethebear, Love the chart too. Just a trade
Reply
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