QTT is in a bear flag continuation pattern. Pennant formed and downtrend continued. May 1st and May 2nd forming support & consolidation. Waiting for price action to confirm downtrend or consolidation. Further downtrend expected based on bear flag pattern.
I placed a 'long gut' on the $7.5 strike price with May 17 expiration. Neutral strategy with unlimited profit and limited risk. Will see how this plays out with potential bear flag consolidating before expiration, or dropping lower. Thoughts? Suggestions?
QTT: Here we are at the IPO price again. This is also the resistance level for the last major breakout in January. So do we find support here for a new run up? That seems to be the question here for next week. It does seem to want to find support here the last few days and has made higher low at 8.70 on the 12th than the 8.59 low on the 9th. Might start a new...
Price has tripled in 3 months despite negative earnings. Double top formation at the 15.7 level. IPO lockup period has expired. Bearish divergence on oscillators.
Qutoutiao Could Dip When IPO Lockup Expires
QTT is showing a nice upward trend that seems to follow trend lines very well, as the chart shows. Good risk/reward. If it keeps the trend upwards over the next few days, could be an easy 20%+ gain in ~3 days.
The recent IPO of QTT showed high interest in this stock. Although they are losing money at the moment, they have a large user database.
Many IPO stocks can be purchased at a lower rate within six months from the issue date, so it may be wise to wait for a few months before purchasing.
There is also some risk for the price to increase significantly until then.