Chart looks terrific. I think its about to seriously break out. I've been accumulating all week at 7.81 (which it seems to hit every other day then turn around). I will continue next week. Technicians will pile in on a close above $8.36, and should run in to 11 in no time IMHO
I agree. This puppy is setup for a big breakout. I think $15-$20 could happen very quick. Investors are looking for defensive plays with growth opportunities. eLong gives them this for several reasons. First, their $164 mil in cash, no debt, and just $200 mil market cap is beautiful. Secondly, The mid 2008 Beijing Olympics will undoubtedly shine more light on eLong on top of the press its been getting lately as travel to and around China will be all over the news this year. Third, web users in china are expected to overtake the USA in 2008 and reach as high as 244 million. Lastly, a research report out by a Chinese Govt agency is predicting the online travel industry in china will grow to $527 mil this year from $307 mil in 2007 and will then pop to $1 bil in 2009 (thats a triple folks over 24 months). Simply put, eLong is a perfect investment. It gives investors the opportunity to invest in the ground floor of a fast growning company in a really fast growing industry/country. Throw in the cash hoard and you get the safety cushion. Any word out of elong management that business is picking up will rocket this one higher. eLong is a safe play. Much safer than any USA based company. eLong is very well insulated from all the negatives in the market today! I wouldnt be at all surprised to see this thing at $50 in 12 months.