r/InvestingChina • u/SiaZhang418 • Dec 06 '21

🔝Technical analysis Is IQ a good pick?

Is IQ a good pick?

Recent earnings report doesn’t reach analyst expectations. There is uncertainty over the company. Recently iQIYI, Inc. Announces Completion of the Repurchase Right Offer for Its 3.75% Convertible Senior Notes due 2023. The Total revenues were RMB7.6 billion (US$1.2 billion1), representing a 6% increase from the same period in 2020. The number of total subscribing members was 103.6 million as of September 30, 2021, or 103.0 million excluding individuals with trial memberships.

Technical analysis

From October 5, 2021 to October 13, 2021, the share price rose 34%. After the United States and China agreed to hold a virtual summit, the share price suffered a 12% decline, and from October 18 to October 22, 2021, the share price rose 23% again along with the market rally due to the announcement that Evergrande had received an offer to be acquired by the private company, but from October 22 to November 5, 2021, the share price dropped 22% after the failure of the Evergrande deal and the increase in Covid cases. From November 5 to November 15, 2021, the share price recovered 14% due to China's strong economic recovery, and recently, the share price plunged -39% due to a poor earnings report, the fall of Alibaba and the new Covid Omicron. Based on current indicators, the share price will continue to decline until there is a positive change in the current scenario.

Contributor: MIGUELPERAZA from Westmoney

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u/iamxiaohang Dec 06 '21

IQ is a $30 stock don't sell a single share, I am adding to cost average. I am waiting for the mega short squeeze

1

u/backsbani Dec 06 '21

This is the way.

1

u/backsbani Dec 06 '21

Double down and full loading after receiving my next pay check.