This Chinese No.1 online game casting platform caught my attention. It is possible that the stock have already finish wave 2 and is on the way back up. In terms of risk/reward if you are the aggressive type when it broke a higher week, break volume resistance at 20.7 and weekly macd is about to cross, it is a go time. If i am right we could see the stock projected higher. Also, If things does not go according to the plan use 18 violation stop or break even stop. Continue to monitor to see pattern unfold we might see a similar pattern. This is kind of my investment diary. Do not use this if you do not agree or do not know what you are doing. Trade at your own risk. Your money, it is your responsibility to protect it. Good luck.
Trade active:
By now most of you could probably see that a handle is being from. When the stock can firmly stand above 27.6 with decent volume, we might see a big trend finally. Have a wonderful afternoon. Cheers.
Comment:
On Feb 12, Renaissance Technologies and Morgan Stanley filed a 13-G form disclosing a stake of 3.15% and 26.2% respectively in Huya. Both world class funds show huge interest in this company is a big bonus. Lets see how far it can go. Let's ride.
Trade active:
A couple weeks of turbulence, ema 50 day support still hold. For those shorter term trader, you should probably have taken some profit and reduce some position already. Medium to longer trend trader still holding tight no violation has been trigger yet. Maybe the correction is over and hope we will get back on track soon. Good luck and god speed.
Order cancelled:
Fail trade. Ema 50 has been violated quite a while but i forgot to update. Until new pattern is form good bye for now.