Cheetah Mobile Inc. operates a platform that offer mission critical
applications for its users and global content distribution channels for
its business partners in the People’s Republic of China. The company’s
mission critical applications optimize Internet and mobile system
performance and provide real time protection against known and unknown
security threats. Its mission critical applications include Clean
Master, a junk file cleaning, memory boosting, and privacy protection
tool for mobile devices; Battery Doctor, a power optimization tool for
mobile devices; Duba Anti-virus, an Internet security application for PC
and mobile devices; Cheetah Browser, a safe Web browser for PCs and
mobile devices; Photo Grid, an easy-to-use photo collage application
that allows users to quickly create professional looking collages of
photos through an intuitive interface for mobile devices; and Antutu
Benchmark, a mobile hardware benchmarking application, which performs
CPU, GPU, RAM, and I/O tests for Android devices.
Take a look at the 1-year chart of Cheetah (NYSE: CMCM) below with my added notations:
After debuting around $14, CMCM embarked on a rally that took the
stock to a high of around $30. At that time, the stock created an
important level of support at $26 (red). Two weeks into September the
stock broke that support and has been falling lower ever since. CMCM
tried to bounce at both $24 and $20 on the way down (blue), but those $2
levels couldn’t hold and the stock is now approaching the key level to
watch at $18 (green).
The Tale of the Tape: CMCM is approaching its key
level of $18. A long trade could be made at $18, or on a break back
above $20. A short trade could be made on a break below $18 or on a
rally up to $20.
Please share this article
No comments:
Post a Comment