For a company that's pretty much like NFLX but available only in China and for their huge population, it's very undervalued at it's current price. While it might not reach as high in valuations as NFLX, it's still worth more than $50 a share. My sentiments on this is bullish for long term. And for the short term, it's as the title says. I feel it's very coiled as...
First indicator for a bullish trend was that the 8 and 13 EMAs are above the 50 EMA. It also stayed above the 38.2% fibonacci line. That was the second indication that suggests to me that it's still moving up.
Please note that I'm still learning how to use the fibonacci properly but their levels have been matching my support/resistance lines. Only know a bit...
