Youku Tudou Inc. operates as an Internet television company in the
People’s Republic of China. Its Internet television platform enables
consumers to search, view, and share video content across various
devices. The company’s services for users comprise online video content
library consisting primarily of professionally produced content,
including television serial dramas, movies, current event reports,
variety shows, and music videos. It also provides guided user-generated
content through Youku Paike and Youku Niuren programs; and produces a
range of content, such as sponsored Web serial dramas, reality shows,
interviews, and variety shows under Youku Originals brand.
Take a look at the 1-year chart of Youku (NYSE: YOKU) with the added notations:
YOKU seems to be trying to bottom out over the last 6 months while
finding support at $16 (red) each time that level has been approached.
Now that the stock is almost there again, traders should be able to
expect some sort of bounce. However, if the $16 support were to break,
much lower prices should follow.
The Tale of the Tape: YOKU has a key level of
support at $16. A trader could enter a long position at $16 with a stop
placed under the level. If the stock were to break below the support a
short position could be entered instead.
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