YY - Continuation pattern

YY is a Chinese video social media platform, most prominently featuring video streaming. It has a massive user base (although many outside of China have never heard of it) with over 300M users and is rapidly growing.

After the most recent earnings report, price of the stock went from $140 to as low as $115 - and as far as I can tell, there was no "fatal" bad news. This dip is a good opportunity to buy in.

Looking at the chart, we can see that YY has been on a long bull run since the start of 2017. With the recent price action, it appears to be forming a flag - which is a continuation pattern. We should see the price test $135-$140 again very soon, and if broken, we may see another strong bull run leading up to the next earnings report (May 8). If it cannot break through the upper bound (or even breaks down), things will get a bit more interesting..
I like your thinking. I was in and out for earnings and got frustrated with the down move. Yesterday was a good sign.
dvdgege5 counsellorvasquez
@counsellorvasquez, For short term plays, I usually avoid taking a long/short position before earnings. It's very hard to predict which way the price will go in the aftermath regardless of the results (see MU today). Neutral positions (strangles & straddles) are my preferred earnings play.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out