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YY Inc. (YY) operates an online social platform in the Peoples Republic of China. It is the facebook of China!
It provides YY Client, a personal computer based user software that offers real-time access to user-created online social activities groups.
The company also offers Web-based YY that enables users to conduct real-time interactions on the Web without any downloads or installations; and Mobile YY, a smartphone application.
In addition, it operates Duowan.com, a game media Website that provides information on online games and other resources for users and online game players.
Shares are heading higher in an upward trading channel. Higher share prices are expected for this stock. The company reports quarterly results on November 6.
52-Week Trading Range: $10.50 - $55.35
Entry Point: $50.30
Stop Loss: $47.80
Target Price: $55.40
YY fell below our stop loss. We do believe this stock will stage a strong comeback today. Our entry point of $50.30 was too high. We should have waited for 30-45 minutes past the opening bell to establish a position. We simply did not follow our own rule.
