Long VIOT @.8976 (oversold)Will hold until profitable and overbought.
My indicator and exit strategy are 26-0 on VIOT in the last 12 months (though this is the first time I've actually traded it). I generally don't trade <$1 stocks bc they're a hassle to trade bc my broker won't do market orders on stocks <$1, but I made an exception this time and got a limit order filled after hours at just above the regular session closing price - here's why I made an exception...
-The average gain on those 26 wins is 8.6% and the median is 7.7%.
-10 of the 26 wins have been double digit gainers.
-Using equal dollar trades each time, that would have been an approximately 222% gain over 12 months on a stock that is down 3% in those same 12 months.
-The longest a lot would have been held is for 2 months and most trades are 1-2 week trades during that time period.
A reminder: these are simply posts about my trading NOT investment advice. Just because I'm trading it doesn't mean it's a good idea for you to. Particularly because this stock is pretty illiquid, only trading about 100k shares a day. That in itself carries risk. So trade it or any of my ideas at your own risk.
VIOT trade ideas
Viomi Technology Co Ltd 🧙Viomi Technology Co Ltd along with its subsidiaries provides Internet of Things (IoT) enabled smart home products through its platform. Products offered by the company include 21Face smart refrigerator, Viomi dishwasher, Eyebot smart range hood, VioV smart speaker, smart mirror, smart water purification systems, smart kitchen products and other smart products. It generates revenues mainly from the sales of its IoT products, consumable products, and from our value-added businesses.
First Quarter 2021 Financial and Operating Highlights
Net revenues reached RMB1,255.6 million (US$191.6 million), an increase of 64.0% from the first quarter of 2020.
Gross margin was 21.1%, compared to 18.8% for the first quarter of 2020.
Net income attributable to ordinary shareholders of the Company increased by 173.2% to RMB49.1 million (US$7.5 million) from RMB18.0 million for the first quarter of 2020.
Non-GAAP net income attributable to ordinary shareholders of the Company1 increased by 106.8% to RMB65.3 million (US$10.0 million) from RMB31.6 million for the first quarter of 2020.
Number of cumulative household users reached to approximately 5.6 million, compared to approximately 5.1 million as of the end of 2020 and approximately 3.7 million as of the end of the first quarter of 2020.
Percentage of household users with at least two connected products reached 20.4%, compared to 20.0% as of the end of 2020 and 18.4% as of the end of the first quarter of 2020.
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$VIOT can rise in the next daysContextual immersion trading strategy idea.
Viomi Technology Co., Ltd, through its subsidiaries, develops and sells Internet-of-things-enabled (IoT-enabled) smart home products in the People's Republic of China.
The demand for shares of the company looks higher than the supply.
This and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $10,63;
stop-loss — $8,88.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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VIOT: Bullish FlagBullish Flag
Pros:
Descending volume during formation
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 8
250RSI above 50
200MA ascending, but barely
Target:
PT = 25.87$
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Shares of $VIOT surges due to hype in social mediaShares of $VIOT SURGES higher due to the uptick in discussions about this stock has been surging on social media platforms like Reddit, Twitter, StockTwits, Facebook, and Discord. In a StockTwits post, Insider-Analysis.com pointed out that 7 institutions increased their positions in the stock while 3 decreased as of this past quarter.
There is also a bullish report published about the company at Xueqiu.com. After translating the article to English, I read that Xueqiu believes that VIOT is expected to grow 10x this year due to its leadership position in appliances and Internet of Things devices.
VIOT was also listed on a number of day trading watch lists on Reddit. And VIOT was listed in the “Daily Movers” on the Robinhood trading platform — which also added to the momentum of this shares.
pulse2.com