Registered: Feb 2009
10-11-12 11:25 PM
Good point. Even though I don't use it many people seem to spend a good portion of their lives on that site. There are a lot of opportunities for this company so even though I don't particularly care for the site as an unbiased view the company has significant upside postential.
From a technical stand point the stock seems to have bottomed and a purchase over today's high of 19.96 would be a nice entry, IMO. If you plan to hold long term there would be no stop -- i.e. investment risk is managed through diversification, not stops.
If you are trading it a stop would be roughly 17.50. Target on the play would be in the area of the June highs are 32.50ish. Resistance starts just above $25 so expect a correction there. That could also be a good place to take a partial profit and possible add that position back at a lower price if the stock offers it.
Quote from marcoPolo21:
it probably won't happen anytime soon, but when China opens up,
you can add 100s of millions of users
they know what they have to do [monetize], and it sounds like they're trying
it may not work out, and it may,
we can't see the future