iQIYI, Inc.Long
IQ at support level -- several indicators confirming
Updated
(RSI, 14) is on a higher low, trending up @36.3
Stochastic RSI on a high 97
Bollinger bands on a 1h time period are reaching a squeeze.
SMA is starting to cross the middle Bollinger Band.
This is the trade I would make:
Entry: 22.8
Long: 23.8 (+ 4% )
Short: 22.15 (- 2.85% )
RRR: 1.54
Stochastic RSI on a high 97
Bollinger bands on a 1h time period are reaching a squeeze.
SMA is starting to cross the middle Bollinger Band.
This is the trade I would make:
Entry: 22.8
Long: 23.8 (+ 4% )
Short: 22.15 (- 2.85% )
RRR: 1.54
Note
As expected, IQ had a significant growth of over 5%; reaching a new resistance level (24 pts).MACD well above the signal line on a 1day chart. And above (but trending lower) on a 1h chart.
(RSI, 14) is @60.5, meaning there could be a small/momentary pullback.
Stochastic RSI is still high, but slightly lower than before 94; confirming the pullback.
New support at @23.1
New resistance TBD.
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