YUMC looking at more upsidey looking at further upside to $64.84 thereabouts for now which will mean new all-time highs.
YUMC trade ideas
Is Yumc still yummy ?It is an extremely busy day today in Singapore where many ethnic Chinese are scrambling to do their last minute groceries shopping before they are closed for the next 2 days. For those who are not aware, it is the CHINESE NEW YEAR or SPRING FESTIVAL celebrated by ethnic Chinese worldwide.
So tonight, families will gather together for a reunion dinner much like the Westerners flocked home during the Christmas. I take this opportunity to wish all who celebrate the Chinese New Year a Happy and Prosperous New Year, with lots of abundant opportunities in the market, health and peace to you and your beloved family.
Please note that with the exception of Europe and US markets, many Asian markets like SG, HK will be closed for trading till 1200 hours.
For this stock, I am not buying as it has been hammered down since it peaked on 10 Jan 2020.
It could goes either way now. If it breaks down from the bullish trend line, then I see it could revisit the support level at 41.05 and 38.38.
Trading should be fairly thin during the festive seasons since many are in the mood to celebrate the New Year.
So trade with care, always use SL and apply appropriate risk and capital management.
Cheers and GBU
YUMC 0.618 and bullish butterfly pattern after buyout rumorI remember that day when YUMC was spun off from YUM I was still in Wall Street as a stock trader.
A few days later this name became one of my best name and my boss was like
"Hey Joe, many of my friends in other PE and hedge fund just did the exactly same trade as yours, good job bro!"
One of the most inspired moment !
Recently YUMC has rumors about being buyout, here we got a bullish butterfly pattern and here is 0.618 spot!
I'll be willing to look for trade around 31.50-32.00 to see if there are intraday reversal signs.
Let's how it goes!
YUMC Bounce and Descending WedgeYUMC gapped down 15% on news about investors not buying it out. Initial reaction was it dumped hard, but bought back up just as hard and came back almost to vwap at 31.89. Could be a good play to either direction again. Looking for a retest of the trendline on either side for a continued move after the gap.
