With Chinese stocks starting their next move upwards, do make sure to take a peek at EFUT, which is traded on the NASDAQ. EFUT (E-Future Information Technology) has a float of 1.8 million shares, with nearly 25% of them sold short! The company is making money, has a low P/E and is on the cusp of running into the $25-$32 levels. Check out the chart setups on EFUT: http://stockcharts.com/charts/gallery.html?efut The Point & Figure setup is giving us a $35 potential target on EFUT. It is now trading above the 5, 10, 20, 30, 50 and 200 day moving averages, and the RSI and MACD are confirming this. EFUT has broken the downtrend with the recent breakout above $18, and is forming a bull-flag. A break of $21.50 level will have it zoom up to $25-26, which is the next area of resistance. The EFUT shorts are in trouble.
You can be right but with any chinese stock these days I will wait until the lift will actually start - otherwise longs can be in trouble as well
<<You can be right but with any chinese stock these days I will wait until the lift will actually start - otherwise longs can be in trouble as well>> Let me ask you this, the stock has climbed from 14 to 20 now, and you are still waiting for the lift to start? In my book, that's a 45% gainm already, isn't it? Here is another chart for you: http://stockcharts.com/h-sc/ui?s=efut&p=D&yr=0&mn=10&dy=0&id=p77607154925&a=83620912&listNum=1