IQ trade ideas
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
Where I'd like to buy IQ againFinally IQ has seen a nice dip most likely due to profit taking on the online retailer sales tax news.
My guess is she continues a bit lower, especially if the low of June 15th's candle ($37.57) is taken out.
Here is my current plan to initiate a new position on the way down.
IQ - IQIYILong IQ after the break back above support here.
Long Aug17 $25 call/Short Jul20 $41 call for $9.55.
Stop: $33.50
Target: $41.00
IQ Possible LevelsThis is my first chart, and wont be my last. All of my ideas are never legal advice, and I wouldn't recommend investing any money you cannot afford to loose physically and emotionally. Any constructive advice is always welcome, as I stay open minded to any possibilities. I want everyone to win!
Im going to keep it as simple as I can.
This is the Daily Timeframe
With that said, IQ looks to of hit a wall at 46.
Looking for a safe long re entry and pullback to 24 area. Although it may hit 40 again before falling lower.
Next possible Short term bounce @ 28 - 31
As it looks today, it has bounced off the 618, but I can see it consolidating until end of july maybe august.
You can also see the momentum has changed for the first time since the 21st, short term bearish.
Ill wait for momentum to change bullish before re looking at this situation. With barley any time on the market and no data, trade with caution. I believe IQ had a great future.
