YinTech Invt: Thunder-strike Pattern
Mid-term Targets: $32 and $82.
Plan: 3 months to 56 weeks holding period watch, and may hold longer as long as the fundamentals stay in-tact.
(1) New Company that provide commodity trading in China like no other company.
(2) looks good.
One of the exchanges in Guangdong that represented 40% of their business is down. We don't know what to expect from it and whether it will reopen and how. So, Yintech will move their customers to the other two exchanges. The national exchange is the Shanghai exchange, which has immunity from being shutdown. I think it would be smart to move their customers to the Shanghai exchange. I am waiting and seeing, and I believe this new company will make the best decision that is good for investors and themselves.
Comments: The company looked like it tripped, but it is not fallen. It is not a bankrupt company. This company is a winner. The environment is there for success.
Thunder-Strikes Pattern. A thunder-strike pattern is caused by a fundamental announcement. Lo and Behold! The chart reflects the challenged caused by the Guangdong exchange going out.
I believe that the price will recover from here and move up to new highs again.