After recapturing its 200 DMA back in April, QUDIAN INC - NYSE:QD continues to grind its way into higher ground in a slow methodical manner as we can observe from the Daily chart above. While further work is required, we're taking note that Buyers may becoming more aggressive as the stock continues to make higher lows and mild higher highs.
Furthermore, QD ...
Heard from a reputable source that this company has improving fundamentals and a smart business model. Fact that its PE is on the low side tells me that there's room to go. Downside is the ongoing trade war which might accelerate the selloff in Chinese equities despite strong fundamentals.
Will be watching this for a morning panic lately those stocks gapping on a red candle have been bouncing really well like FTFT, PHAS, AVGR
Will only be playing if this has a morning panic will be watching the bounce of previous support like 5.64, 5.48, this stock has a history of not holding its gaps so will also be mindful that in the past this has not bounced...
It seems as if QD is waiting for some news about the trade tariffs or something to define its direction.
I'm highly bullish because of its fundamentals, but the chart is still neutral
