AutohomeATHM hit a new 52 wk high today before pulling back to a level of previous consolidation at $47. Price has good support at this price level.
8AHA trade ideas
ATHM Breakout?I use IBD50 to identify promising stocks. This one is on the list and has been consolidating for several weeks. Broke out of consolidation range a bit this week and could be poised to run higher if the overall market cooperates.
ATHMGood report helped keep the price. Breakup pattern on growth gives us a point to buy. In general, in my opinion, Chinese companies, especially Internet services, have a rather large growth potential. One, however, is alarming. Chinese stock market does not particularly want to grow
ATHM - Long - Swing+ broke-out today on very high volume
+ trend intensity is bullish
+ head and shoulder pattern formed
- 5ema is far at the bottom of today's bar; retracement towards 5ema upon break-out is possible
ATHM CUPTHIS STOCK HAS HIT RESISTANCE IN CUP FORMATION WITH A BUY POINT. COULD CREATE A HANDLE BUT A BUY AT 53. 66 LEVEL
