FUTU HOLDING : CMP 73FUTU HOLDING Is Shorting Candidate in this Bull market...Short below 75 with SL 82 for target 60 50
FUTU trade ideas
Futu Founder Leaf Hua Li Apologizes over System Failure"We are sincerely sorry, and we humbly accept all criticism and advice. We will make relevant improvements immediately." Future founder Leaf Hua Li publicly apologizes for the interruption of the morning of October 9, 2021.
"We are sincerely sorry, and we humbly accept all criticism and advice. We will make relevant improvements immediately." Future founder Leaf Hua Li publicly apologizes for the interruption of the morning of October 9, 2021.
On October 11, 2021, Futu Holdings Ltd. founder Leaf Hua Li issued a signed article, apologizing to the public for the transaction interruption in the early morning of October 9, 2021. He highlighted three points in his apology.
Several brokerages, including Futu, experienced network failure in their engine rooms due to power stoppage. Futu contacted the operator for repair and was able to resume core services within two hours.
First, Hua Li addressed the compensation issue for near-exp options' value zeroing. Futu has already started contacting its clients regarding this issue and will negotiate and make customized compensation plans.
Second, Leaf Hua Li addressed the problem with the disaster recovery system. Hua Li emphasized that Futu's system implements disaster recovery and a dual-channel redundancy design, from market quotation to transaction, server to transaction gateway to network transmission.
Leaf Hua Li said, "This incident took hours to fix, which provided us with a lesson and much insight." In addition, he made it clear that Futu will prepare and include a backup solution that deals with transaction performance, order delay and supports cross-IDC. If a similar incident does happen, Futu could shorten the repair time to minutes.
Leaf Hua Li made the last point about the asset display issue. Many clients could not see their position and asset data during the interruption. The system failure severed the connection between the MooMoo APP and the background data, which caused panic as the interruption zeroed users' front-end display. Hua Li promised to improve the performance of the MooMoo App and its relevant services.
FUTU UpdateIf holding longer term calls/shares here on FUTU, you want to see a bounce around this 152ish area for another retest of this symmetrical triangle. Personally, I think the support will break and we see another touch at the bottom of this pattern towards the 130-132ish level before bouncing.
With most symmetrical triangles, we will see three touches on top and three touches on bottom. We also want to see this close in close to the apex of this pattern and until then, I will be playing the tops and bottoms of this pattern until a direction is confirmed.
GL!
Amazing Risk/Reward(FUTU)After heading towards historical support we have found signs of a reversal amongst FUTU. We are seeing a text book Squeeze signal as seen by the increase of buying momentum, followed by volatility. Not only have we seen bullish signs amongst the daily but we can see reduced selling momentum on the weekly time frame, which gives us greater confirmation that we are not fighting the trend. After applying a Fib-Trend extension we can see where potential price targets may lie. I personally would hold until 170 or the 0.5 retracement since we are seeing bullish signs to such a great degree, but for those that want a quick scalp I like the idea of swinging to 130 since that is where a anchored VWAP rest followed by a 0.236 Fib retracement that also rest there(increasing the validity of that zone).
Bullish Signals
-Squeeze Indicator
-Willy Oscillator
Price Targets
- 1st 125
- 2nd 150
- 3rd 170
$FUTU Futu Holdings Pivot Point Pt's
Hopefully you find the chart helpful in terms of Supports & Resistance etc.
we refrain from adding commentary on the chart as that is reserved for our members and we are very conscious of not giving financial or trading advice.
Thank you for taking time to consult our chart and we would really appreciate a like, follow or comment.
Futu Releases Q2 2021 Financial ReportAs a global technology-based securities firm, Futu Holdings Limited (Futu:NASDAQ) is committed to driving innovation with science and technology to provide more convenient and ultimate financial science and technology services for major markets around the world.
According to Futu's released performance report for the second quarter of 2021:
- The total revenue reached USD 200 million (about CNY 1.29 billion), with a year-on-year increase of 129%. It presents a triple-digit growth for six consecutive quarters.
- The net profit under non-GAAP was USD 70.9 million (about CNY 458 million), showing a year-on-year increase of 127%.
- The trading commission and fees increased by 95% to USD 100 million, where interest income increased by 194% to USD 78.6 million (about CNY 508 million), and other income (including wealth management and enterprise service business) increased by 141% to USD 21.7 million (about CNY 140 million).
- As of June 30, 2021, the number of registered users has officially exceeded 15.5 million, with a year-on-year increase of 67%. The number of customers opening accounts reached 2.32 million (up 143%) and the number of customers with assets achieved a 2.3 times increase to over 1 million.
- The customer retention rate reached 98% in the first half of 2021.
- It achieved a net increase of 211,000 customers with assets in Q2 2021, more than three times that of the same period of 2020. By the end of the reporting period, the assets had exceeded USD 64.8 billion (about CNY 418.74 billion), showing a year-on-year increase of 254%, and the average assets of customers with assets had reached USD 65.000 (about CNY 420,000).
- The total transaction volume totaled USD 169.4 billion (about CNY 109 million) in Q2 2021, representing a year-on-year increase of 104%.
- Customers' average daily revenue transactions (DARTs) increased 105%, reaching 541,000.
-As of June 30, 2021, the AUM of Futu Money Plus reached USD 1.77 billion (about CNY 11.44 billion), achieving a year-on-year increase of 59%. Futu Money Plus has connected with about 50 global well-known fund company partners (7 new partners in Q2 2021), including Goldman Sachs Asset Management, Hanya Investment, UBS asset management, etc.
- As of June 30, 2021, Futu had provided IPO distribution and IR services to 186 enterprises.
- There are 26 enterprises in Futu's '10 Billion Club' (subscribed over HKD 10 billion), of which JD Logistics (002618:HK), Angelalign (006699:HK), Nayuki (002150:HK), Carsgen (002171:HK) and other enterprises were added in the second quarter of 2021.
- By the end of the reporting period, more than 600 new economic enterprises had settled in Futu Niuniu community.
- In addition, Futuie has signed with 263 ESOP option management customers, with a year-on-year increase of 189% in Q2 2021. Customers include leading enterprises in medical and health, consumer retail, cutting-edge technology and other industries, such as Yidu Tech Group (002159:HK), Simcere (002096:HK), Popmart (009992:HK), Nayuki (002150:HK), etc.
- Futu was officially included in the MSCI Hong Kong Index in Q2 2021. At the same time, it was awarded BBB - by S&P Global Ratings.
$FUTU - Ascending TriangleIn the 1HR we can see $FUTU in what looks like a Ascending Corrective Wave (Horizontal) Triangle with a flat top, bottom rising. It looks like it completed wave ( D ) and is primed to start wave ( E ). MACD looks like its curling up ever so slightly. RSI is in the oversold territory and the last two times it was in this area we had a good move up the next day. If this trend continues it suggest that we should see a move up tomorrow (8/12/21). My first PT is around $108. If all fails and it drops lower it can touch the $100 area while still being in the Ascending triangle formation. LMK what you think!
FUTU Greatly OversoldFUTU is resting at its historical support and is also showing signs of bouncing off of this place allowing for major gains to be had. Our Bullish Signs are the %R oversold oscillator about to create a crossover buy signal and the squeeze displaying a reduction in selling momentum.
Bullish Signs
-Oversold, on oscillator
-Squeeze indicator
-historical support
Price Targets
-1st 121
-2nd 133
-3rd 142
-4th 153
-5th 164
Hope you enjoyed and remember to invest safely :)
FUTU - Update 7/18/21I am expecting to see FUTU bounce soon from this Triangle and we can clearly see that FUTU completed a 1-5 Wave up and entered into the ABC corrective wave.
FUTU appears to have completed this A wave down and should see a B wave bounce near 90% of the Wave A down (projecting B wave around 177ish) before another wave C down around 116-128ish levels.
Obv, we will need the overall markets to hold steady in which I personally think we will see a bounce higher in SPY in the 427-428 range.
FUTU - Touched the Support 😍-Futu, based in Hong Kong, is a fintech offering a digital brokerage and wealth management platform. It has been referred to as the Robinhood of China. The company went public in March of 2019 at about $15 per share, and has been on a rocket ship since. It is up about 250% year to date and is trading at around $145.
-The nearly 26% spike in the stock price in June reflects the meteoric growth of the trading platform. The number of paying clients, or those with assets in their Futu accounts, increased 231% year over year to 789,652 in the first quarter. The total number of account holders jumped 70% year over year to 14.2 million. The daily average client assets were 385 billion Hong Kong dollars ($49 billion), up 303%, and total trading volume increased 277% to $283 billion in U.S. dollars. About 63% of that was in U.S. stocks.
-This resulted in a 349% increase in revenue to $284 million and a 373% rise in gross profit to $226 million. Net income increased more than sixfold year over year to $149 million.
-Futu is one of the hottest growth stocks on the market and is showing no signs of slowing down. It has the tailwind of the global trend toward digital trading, which has opened the door to new and younger investors. It has a large addressable market, given the growth of the Chinese market through the growing middle and upper classes. In March, it expanded into Singapore and is looking to grow further in Southeast Asia.
-Futu has a great business model with high margins and the potential to be a good growth story for a long time.
