HUYA show´s strength at major support level! Retest & Breakout?Huya fell even further in the last Weeks since my last Post, even the Resistance from my last post didn't hold.
No we're at a MAJOR Support Level, with not negative news flow and upcoming earnings, and also we had a nice bounce today.
I'm down 22% right now with this position and I will buy more in the following day's, because in my opinion this stock is completely undervalued in comparison to other Gaming/Streaming stocks.
HUYA trade ideas
HUYA - [Reversal] LongTime to go long with HUYA - I'll keep this short & sweet to save you the "Car Salesman" pitch.
We've bottomed out on the .236 level and are looking to make a break through the $19 barrier before we take our first batch of profits at $21 being our next level of resistance. I'm setting a close stop at $18
Couple of other favorable factors;
- Increasing volume on the daily timeframe
- RSI is healthy (not showing overbought conditions)
Good luck
HUYA - 65% Potential to 28 USD! THE NEW GAMESTOP?In my opinion Huya could be a big Trade in the next weeks/months.
Reasons:
-The Gaming/E-Sports Streaming Industry is set to triple in the next two years
-The Interest on Wallstreetbets is growing
-Technically it seems to have a trend reversal
-if the merger with Doyu happens they have a complete monopoly (also a risk because of the Chinese government)
-the numbers were good, but the chart didn't react
-high short interest
More details on Wallstreetbets(cant post the link here)
So the fundamentals look very good, that's why I think it's also an interesting long term play, but besides that I was very surprised to see some posts on Wallstreetsbets about it in my opinion that's a very bullish signal, the posts performed extremely well, and I can't find a reason why this shouldn't be the next big WSB play.
--- If the WSB interest really will grow like that, there is a way bigger growth possible.
Excuse my German school English.
Buying opportunity for E-sport companies Many Chinese companies have been battered pretty bad over the last few weeks and some followers are concerned.
Huya is one of them. Now, I am NO gamer to begin with so all that I know are based on my own research which naturally can be biased so do read it with a pinch of salt.
One of my first and biggest investment is Tencent which many knows I love its business model and I followed it quite closely. Huya is much more concentrated in E-sports than Tencents and that is what I loved about it.
Read this article here and you would know that Covid-19 has kind of turbocharged this E-sport industry.
Now, you don't have to be a professional tennis or golf player to earn millions in prize money. E-sports is offering that these days now !!!
Seriously ? One can make a living out of E-sports which was associated with bums hanging at home and playing games all day without eating or sleeping !
An important factor not captured by mainstream media or research companies is the demographics patterns of players ! Much like livestreaming , influencer, youtubers, these people who want to dabble in this millionaire dreams are getting younger and younger. The influence is great and they are connected to a certain extent.
It offers some of these students a way out of traditional school life. We know that education system takes years to change and while we are in the internet age of things, schools are still loaded with textbooks and worksheets and you see kids still carrying 5kg worth of books in their schoolbags daily to school. Yet, we talk so much about internet penetration, Ipad, online learning ,etc.......
Playing games offer a different reality to these tweens who find it amusing and addictive as they are playing with their school friends and competing with others. I know coz 2 of my kids are doing so daily.........
HUYA - RISE!As we can see on the large timeframe, the price is testing the support level. The chances are very high that it will rebound and start growing. A false breakout of the support level is not excluded.
If you like the idea, do not forget to support with a like and follow.
Thank you and Good Luck!
Huya Bullish breakout.3 key points in Huya graph:
1- After a clear swing failure pattern under 12$ ( ipo price) , Huya return in a probably accumulation range and show an Higher high (30.62$).
2- Huya return in trading range and retest a weekly OB at 18.54$ with strong reaction.
3. Price does a break up of trading range and retest the R/S flip.
In my opinion seems a good buy zone in combo with foundamental analysis at this level , the alternative is the test of the prior weekly OB at 23.15$ . Stop loss in both cases under swing low at 18.14$.
Disclaimer: All writers opinion are their own and do not constitute financial advice in anyway whatsoever.
Huya a possible big trade ideaThis Chinese No.1 online game casting platform caught my attention. It is possible that the stock have already finish wave 2 and is on the way back up. In terms of risk/reward if you are the aggressive type when it broke a higher week, break volume resistance at 20.7 and weekly macd is about to cross, it is a go time. If i am right we could see the stock projected higher. Also, If things does not go according to the plan use 18 violation stop or break even stop. Continue to monitor to see pattern unfold we might see a similar pattern. This is kind of my investment diary. Do not use this if you do not agree or do not know what you are doing. Trade at your own risk. Your money, it is your responsibility to protect it. Good luck.