Most people don't use the Hull and it is an interesting creature. The convergence here is very strong and I think predicts a full reversal in the downtrend in price. We see that IQ has been mostly flat over the last 4-6 days visually (not percent-wise) and the Hull just reinforces the fact we have found a local bottom. SHortly I expect we will see a cross on the daily normal as well.
Free and publically availibe data for broadband penetration is somewhat scarce, and there are a lot of caveats that exist when using wikipedia based sources, but in 2014 China ranked 66th for fixed lone broad band penetration and 77th for mobile/cellular broad band penetration.
Also, the growth of IQ before it went public is impressive:
- In mid-2015 the site had 5 million subscribers,
- in late 2015/early 2016 it had over 10 million
- and by June 2016, it had 20 million.
It seems clear that IQ will continue to have exponential growth as China both improves its broadband penetration and as the existing market adopts it as their web-based streaming platform.