Long Position on NOAH @ $20.40 on 12/4/2013 (Momentum)

Noah Holdings Limited (NOAH) operates as a wealth management service provider with focus on distributing wealth management products in the People’s Republic of China.

The company’s distributed products include fixed income products, including collateralized fixed income products sponsored by trust companies and real estate funds managed that provide investors with fixed rates of return; private equity funds products comprising investments in various private equity funds sponsored by domestic and internal fund management firms, funds of funds and real estate funds, and the underlying assets that are portfolios of equity investments in unlisted private companies; and other products, such as mutual fund products, private securities investment funds that are privately raised funds investing in publicly traded stocks, and investment-linked insurance products.

It serves high net worth individuals; enterprises affiliated with high net worth individuals; and wholesale clients, primarily local commercial banks or branches of national commercial banks that distribute wealth management products to their own clients. 

Shares are heading higher in an upward trading channel. Currently, they are near the lower boundary of the said channel.

52-Week Trading Range: $4.90 - 25.51

Entry Point: $20.40

Stop Loss: $19.44

Target Pirce: $22.50

Updates

12/11/2013 10:48:24 AM

NOAH dropped below our stop loss. We do, however, remain positive on the stock.

Position closed on 12/11/2013 at price of $19.40 with a -4.90% loss in 7 days.

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