Long Position on QIHU @ $23.25 on 10/4/2012 (Momentum)

Qihoo 360 Technology (QIHU) provides Internet and mobile security products in the People's Republic of China.

Its principal products include 360 Safe Guard, an Internet security product for Internet security and system optimization; 360 Anti-Virus, an anti-virus application to protect users’ computers against trojan horses, viruses, worms, adware, and other forms of malware; and 360 Mobile Safe, a security program for the Google Android, Apple iOS, and Nokia Symbian smartphone operating systems.

The company’s platform products comprise 360 Safe Browser, a Web browser; 360 Personal Start-up Page, a default homepage of 360 Safe Browser and a key access point to popular and preferred information and applications; 360 Application Store, a key access point to securely obtain and manage software and applications; and 360 Safebox, a solution that protects users against thefts of personal account information.

It also provides online advertising services, including online marketing services and search referral services; and Internet value-added services comprising the operation of Web games developed by third-parties, remote technical support, and cloud-based services. Qihoo 360 Technology Co. Ltd. has strategic partnership with China Network Television.  

Shares have formed a bullish "double bottom" around the $22-$23 level. The top of this formation (resistance level) is around the $26 level. Shares should reach this level without much difficulties.

52-Week Trading Range: $13.71 - $26.35

Last Trade:  $23.25

Stop Loss:  $22.08

Target Price:  $25.58

Position closed on 10/12/2012 at price of $22.08 with a -5.03% loss in 8 days.

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