HUYA BounceHUYA has rounded up into resistance at overbought levels. Looking for this to have a pullback bounce back to the moving averages.
HUYA trade ideas
HUYA Gap Fill ReversalHUYA has filled its gap and continued downward to the bottom of the range. It has bounced and has formed a reversal doji, signaling a gap fill reversal back to the next layer of resistance around the $26 area for a potential 8% gain.
HUYA BUY OR LONG , TARGET UP TO $28.5HUYA Already confirmed the "Rising Triangle" pattern at $22.50 .
HUYA buy zone : $23 - 23.20 (or any) .
HUYA target : $28 +- $0.5
Stop loss : 10% Or options vs your position.
Wish you good deals !
You don't have to be a gamer to make the millionsFirst thing first, I am not a gamer. But, I can't say that for my 11 year old son who is pretty
much into it. I guess that is the trend for young teenagers now, boys and girls included.
As an investor, I look for trends that are disrupting and are here to stay. Facebook is one good example. It has faced so many legal battles and it is still going strong. My Iphone is 3 years old and I am still using it despite my wife asking me to upgrade which I do not see a need for it.
And for a while now,I know gaming is big , very big in China. It was from my investment in Tencent that I discovered many people in China likes to play games. Even some of my closed friends here.
I am sure we know that many teenagers aspire to be the next gaming millionaire like Pokimane and this trend will continue for some time. With Covid-19 lockdown continuing in many parts of the world, it has created a conducive environment for kids/teenagers to stay home even more to "hone their skills".
Anyway, since I can't be and won't be a gamer and likely to make millions out from gaming, I can at least participate in owning some shares of good Esports Company like Huya, social media giant like Facebook, get exposed to market trends and read articles while on the move on my iphone, etc.
Opportunities thrive in chaos - so it is up to us to find good gems in this Covid-19 pandemic so that when it is free from it, we are already much ahead of our financial goals.
To your success, traders!
Similarity (after-IPO low and the decline in March (covid19))HUYA IPOed with 13$ and after a good slopy hype of up to $50+ declined again to around 13USD. Until the COVID-19 crisis it mainly stayed between resistances at 19 and 28. Then plunged again to about 13 with some oversellings followed.And now in my opinion it is in a recovery which most probably will not be affected by any second or third wave of the pandemic. E-sports is still growing. In following weeks HUYA will break resistance at 20 and head towards 26.
China is 2nd to US in terms of EsportsRead article here
We have heard of cases of kids and teenagers who died while spending hours at internet cafes and the Chinese government ban on online games to appease the public at large.
Esports is now gaining recognition worldwide with more tournaments being held. In fact, it was to be a major Olympics Event in the upcoming Tokyo 2020 summer Olympics but due to Covid-19, it was cancelled.
There are several big players in this industry including Tencents, Actvision Blizzard, Electronic Arts and Huya. That leaves Tencent and Huya as the dominant Chinese e-sports companies .
HUYA long termIf we will break 19.30 we will have confirmation to break 20.30 which will open move to 27.70
HUYA $15 Call/Put Credit SpreadHUYA:
Support: 14.9
MACD: Flip positive
CCI: Overbought, but continuation due to interest.
Earnings: Positive (05/22)
Financials: Generally positive
$HUYA Above 17.71 is bullishabout to hit the first target, anything above 17.71 should be a good long opportunity.
HUYA Round DownHUYA is looking relatively bearish on its daily chart, yesterday sinking below its moving averages. It is forming a rounding pattern to the downside where an appropriate target would be $13 range.
NYSE: HUYA SWING TRADE (DAILY) NYSE:HUYA
- Price finding support at major trendline
- Stochastic oversold
- TP & SL on the char
$HUYA Long up channel10/16 - Just opened a full position here in $HUYA @ $23.95. I'm looking at both the trend channel and wedge pattern. My STOP is $22.00, Target 1 - 27.38 where I'll take 1/3 off T-2 29.71 another 1/3 and let the last 1/3 run. Let's see how this fairs... my ideas, not investment advice!
