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This stock was first featured July 2013 at $34.
YY Inc. (YY) operates an online social platform in the Peoples Republic 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 have formed a bullish "cup and handle" and higher share prices are expected for this stock. The Company reports earnings tomorrow, and we are now hearing rumors that the firm will post very strong results. This morning's weakness due to the Ukraine sitatuion, should offer a better entry point for this stock.
52-Week Trading Range: $15.26 - $77.90
Entry Point: $72.50
Stop Loss: $68.88
Target Price: $79.75
YY has reached our target price. We are riding it higher as we believe earnings will be strong. YY last traded at $81.00.
YY Inc. reports Q4 EPS 53c, consensus 46c - Reports Q4 revenue $101.1M, consensus $84.48M. YY Inc. sees FY14 revenue up 98%-102% to RMB 625M-RMB 635M.
We are closing the positon at $94.00 in after hours trading.
