Man stares at SOHU chart, sees it doing the right thing
As with Weibo before it, Sohu, which I bought to replace WB when I sold it, is doing what I’d hoped and what the chart had said it could do, +20% this morning.
Like WB, SOHU was bought despite the damage being done to Chinese stocks by their central planners and China/US relations. I don’t know what is making this pop happen, but I’ll look into it. I sold WB because I did not want to hold the perceived hype that drove it up. But I may be more patient with SOHU, depending on what I find out.
This is one of several items included in NFTRH 663’s Stock Charts & Notes segment (after being posted in the real time Trade Log). Here’s the note that came with a weekly chart of SOHU…
After a fortuitous profit was taken on WB (on a rumor of being taken private) I added SOHU (weekly), another Chinese stock with a constructive chart. Most big Chinese Tech companies are getting hammered but the smaller WB and the downright small SOHU have maintained their standing. So, giving it a shot.
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