WE-BUY? - IN PRICE DISCOVERY MODE
Updated
WeChat is an amazing app. Hands down it has almost everything one needs in order to get by daily living, including social interactions, payments, insurance and investments. Having lived in China for many years as a foreigner, I have seen the likes of social media platforms rise and fall.
Founded by one of the THREE BIG MAs in China, Wechat is a behemoth in the IT world. Their personal touch and attention to the needs of the masses separate them from Jack Ma's Alibaba and Alipay. These days, I DO NOT see anyone NOT USING Wechat in China. Their integration of Wechat moments, simple messaging system and idiot proof money transfer/payment system rolled into one makes Facebook and whatsapp look prehistoric.
Perhaps there will be a correction in the near term, but for the EW analyst or even those who use fractal and chart patterns, it is hard to ignose this one. Verdict - We Buy.
Founded by one of the THREE BIG MAs in China, Wechat is a behemoth in the IT world. Their personal touch and attention to the needs of the masses separate them from Jack Ma's Alibaba and Alipay. These days, I DO NOT see anyone NOT USING Wechat in China. Their integration of Wechat moments, simple messaging system and idiot proof money transfer/payment system rolled into one makes Facebook and whatsapp look prehistoric.
Perhaps there will be a correction in the near term, but for the EW analyst or even those who use fractal and chart patterns, it is hard to ignose this one. Verdict - We Buy.
Trade closed: target reached
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