I1QY34 trade ideas
IQ - Buy on Dip candidateAnother "candidate" for Buy on DIP - IQ
Price slides ~30% from mid June peak @ 46.
Price retrace to 50% Fibo level. Support at 30 level looks solid
Price stay above EMA50 and starting to cross above EMA20.
Volume is picking up. ~50m traded exceed 40m moving average.
No sell signal from Bollinger Band indicator..
Price closes above high of last 2 candles for the first time with +ve force index.
RR Ratio > 2
let's try IQ againwith the rising-3 on the weekly, a nice bounce off of support on the daily, and a rest-after-battle on the hourly... what more do we need?
IQIYI long bottoming breakout strategyLooks like this one may be bottoming out from retracement. Looking for a higher low to form and then a higher high break through both dotted lines. Green arrow represents long positions. green box represents sell region based on 1.618 fib as well as the prediction of this to form a LARGER long term tightening pennant possibly reversing near green zone. SL is at most previous low or just trail. macd divergence is very low = low volatility = breakout incoming to increase volatility (bull macd cross?)
Technically and Fundemantlly Long on IQIYITechnically
Most people don't use the Hull MACD 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 MACD just reinforces the fact we have found a local bottom. SHortly I expect we will see a bullish cross on the daily normal MACD as well.
Fundamentally
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.
Falling wedge b/o setupHourly chart. Falling wedge break out setup. Once it is confirmed, the price will shot
IQ seems to have little downside.IQ Trend line seem to point to either today's low as low or it might test low of Bollinger Band.
IQ support bounceLooking at the chart of "relatively hot" IQ, seems there is support in the $30.60 range in the last 6 trading days.
With stochastic oversold, and IQ price hitting limit order of $30.60, expecting small bounce to 13-day EMA at 33.75 for a $3 win (almost 10%). That is target #1.
Target #2 is to continue the momentum and hit $37.50 or so for a 20% win. MACD is still positive (but dropping). We will see how the trend goes.
Stop loss at $28. Again this is a momentum stock, so expect some volatility on this one. Good luck out there!
IQ options tradeBat Jr. was talking about this stock (on the show) as well as Benji in the Tasty Trader's chat. I normally shy away from riskier stuff but with too much on the sidelines right now I will dip a toe for this Chinese start up. Collecting a little over a buck to initiate the trade and a five dollar wide embedded vertical means my break even in this stock is 24 for the next 98 days. Options prices are really jacked in this stock and I was considering collecting $10 for a buy/write out til December but decided to play it a little closer to the chest. Wish me luck, I will need it for this one.
$IQ Oversold at Support - Hammer Candlestick$IQ expecting a bounce in the near term. Break through the 50d ema will be key. Looking like a possible down trend breakout followed by eventual retest of that line today. I'm bullish near term.
IQ (elliot wave with ABC correction)IQ is ready to go again.
It's a young Chinese stock, apparently the Netflix of china with better features and we all know how Netflix is doing.
IQ - Short Term BearishComparing to BABA in beginning of 2015, I think IQ will begin to make lower lows.
Be quick on the bearish swing trades, because I am bullish longer term.
IQ Finally dippingStock has had more than a 30% pullback,
Look for the stock to consolidate around the
$30 mark and then move higher.
#buythesalsa
