Weibo nice reaction on support.Weibo is one of the most used social media platforms in China.
Since more and more people in China are being connected to the internet (behind the great firewall) and thus only chinese social media are available for them, i expect this stock to get to new highs.
After a downtrend that allmost took an entire year, Weibo has found support at the golden pocket. When we take our Fib extension tool we see that a very reasonable 1 to 1 extension takes us up towards the 180$ region.
Before entering i want to see price moving up through the diagonal resistance, creating a higher high and finding support at the 3D 200 EMA.
WB/N trade ideas
bearish trend is weak o The cloud is thing and divergence is happening
o Price broke the cloud and retesting
o price action will indicate whether
its a buy or to wait
Buy signal is if a gap up happens and
price opens at 63.10. its definite buy.
Or bullish candle's volume exceeds the last
8 candles than its a buy
o #the1%
Weibo breaks down from a triangle pattern on a downgrade!Weibo, a Chinese platform similar to Twitter, was down 13% on a downgrade (buy to neutral) from Nomura today citing slowing growth in China. In 11 years of trading, I've seen analyst actions have both huge impacts on stocks and also no impact at all on the stocks they cover. It mostly depends on the analyst's timing, who they are and their previous track record with the stock. Today's downgrade seemed to catch Nomura at a rough time as 13% is not a small decline just because someone's opinion changed.
In general I don't care so much what the analyst said, but rather the price action that followed. In the chart above we see WB managed to create a very solid base at the $54 level over the past few months. This base held through all of the turmoil of December's declines and it seems it took this downgrade today to have it smash through the support line. I believe there will be follow through.
We can sell short WB between $52.50 and 53
Target 1: $47.80
Target 2: $44
Stop: $56.25
$WB bottom formationOver the last year $WB has been decimated, going from a high of $142.12 to a recent low of $53.11 in late October 2018. Since then it has consolidated well. If market cooperates here, it could be gearing up from that consolidation to go north again. If it takes out $70, then $80 to $90 is doable.
Bullish on the Chinese tech sector, 5 must have stocksSeptember is often considered a tough month for stocks. However, many Chinese stocks have already had a rough year due to escalating trade tensions between the U.S. and China.
By and large, the fundamentals supporting Chinese tech stocks are strong given small penetration rates in a very large and rapidly growing internet market. For the most part, the technicals point to healthy upside going forward.
The following 5 Chinese tech assets are hovering around their Point of Control POC: price point with the highest trade volume and are showing signs of recovery using a number of indicators. We use the China 50 Index as a benchmark for these assets.
Oversold stock.This stock keeps having good earnings. I feel like it is down with the trade war. But, it is an online business that deals with social media which is not effected. This keeps having good earnings and the stock keeps going down. This looks like a good buy. Picked up a few shares yesterday.
WB - Trading in a range - Keep an eyeWB is trading between support and resistance areas $103.5 and $108.5. If it breaks the resistance then don't be surprised to see $115 and then $120. Momentum is a bit slow for now and projects $118 by end of the month but that could change once it breaks the resistance.
If it breaks down target could be $99 and then $95.
Disclaimer: This is just my opinion, not an advice. Trade at your own risk.
Weibo - $WB - Nice Dip, seeking newsWeibo ($WB) looks to be in a nice dip at the moment. I'm awaiting news regarding the trade situation with the US / China and that will determine the future of my decisions. It is trading below the 255 day linear regression 2x standard deviation line currently, and looks to have possibly formed a double-bottom.
Good Risk Reward Long Entry for WB Here (Weekly)I believe that within 3 months, WB has a better chance to continue the uptrend than to have a complete reversal.
I believe the 98-105 support level will hold, and thus have initiated a long position at 103.5 with a stop loss at 95.
My target profit area is the 130-140 zone.
The risk is 8.5 dollars down for a reward of about 35, which is a 4 to 1 risk to reward ratio.
Volume Profile Identification of Support & Resistance for WBJust dicking around with volume profile, honestly. It shows the distribution of volume across price, i.e.: how much volume was traded at each price. The horizontal lines are areas of higher volume. The orange dashed line is the price that traded with the highest volume within the fixed period I set. The blue lines indicate a moving 1-standard deviation capture of all volume in the fixed period, kind of like a Bollinger Band except volume based.