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sexyfruit
Jun 20, 2018 3:08 PM

IQ retrace Short

iQIYI, Inc.NASDAQ

Description

Bulls getting tired. looking to pick up longs 25-30, but could be more bullish and have alerts at 36

Comment

typo: alerts at $33

Comment

FYI this analysis came mainly from the daily chart

Comment

analysis has proven good so far. we had a bounce off support at $30, but i think it still looks a bit weak. will watch for more consolidation in the 30-33 zone before considering going long. if that zone doesnt hold up, next target down is 25-27

Comment

this thing looks like its about ready to turn around. im going to begin scaling into longs. nice trade bye
Comments
rob.proesmans
i lost huge on this stock (bought top) is it too late to sell now you think? How far will this correction go?
sexyfruit
@ROB.proesmans, i think we are nearing the end of the correction. I am going to start scaling into longs here.
sexyfruit
@Ilove, the lowest i see it going is 25
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