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Renren Inc. Message Board

shkozi12 2 posts  |  Last Activity: Apr 21, 2015 9:50 AM Member since: Feb 4, 2006
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  • Why are we @ $3.50?
    We should be trading @ $20+.......!

    Sentiment: Strong Buy

  • NQ Mobile

    Another under-$10 stock that's quickly trending within range of triggering a big breakout trade is NQ Mobile (NQ - Get Report), which provides mobile Internet services in the People's Republic of China and internationally. This stock has been destroyed by the bears over the last six months, with shares getting slammed lower by 43%.

    If you take a look at the chart for NQ Mobile, you'll notice that this stock spiked sharply higher on Wednesday right above some near-term support at $3.70 a share and basically off its 50-day moving average of $3.81 a share with heavy upside volume flows. Volume on the day registered 3.99 million shares, which is well above its three-month average action of 1.13 million shares. This high-volume rip to the upside is now quickly pushing shares of NQ within range of triggering a major breakout trade above a key downtrend line that dates back to the start of this year.

    Market players should now look for long-biased trades in NQ if it manages to break out above that downtrend line which will trigger over some near-term overhead resistance levels at $4.10 to $4.17 a share and then above $4.31 to $4.35 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action 1.13 million shares. If that breakout materializes soon, then NQ will set up to re-test or possibly take out its next major overhead resistance levels at $4.73 to $5.08 a share, or even $5.50 to $6 a share.

    Traders can look to buy NQ off weakness to anticipate that breakout and simply use a stop that sits just below some key near-term support levels at $3.70 to $3.60 a share, or at $3.42 a share. One can also buy NQ off strength once it starts to clear those breakout levels with volume and then simply use a stop that sits a comfortab

    Sentiment: Strong Buy

RENN
3.80+0.01(+0.26%)Jul 2 4:03 PMEDT