$YOKU: Posted a strong day today at 3.86% (including AH). All indicators look great on $YOKU at this time and Chinese Internet Stocks have been hot. There is NT overhead resistance as depicted below; however, there is limited LT overhead resistance above #2 resistance line. OBV with a strong surge today and ADX/MACD/RSI are healthy. Sto at the overbought level, but this has stayed above 80 for a period of 2 weeks in the past while trading upward. CCI is also nearing bullish level. We are looking to possibly enter on the long side with an ITM/ATM Aug17C, as earning reports on 2Aug13. Of note, $YOKU missed earnings Q1 while beating Q4 2012. This is definitely one to watch in the upcoming few days, especially considering we may see a weak market tomorrow.
Disclosure: No position held by FTC at this time.
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