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Noah Holdings Limited (NOAH) operates as a wealth management service provider with focus on distributing wealth management products in the Peoples Republic of China.
The companys products include fixed income products, including asset management plans sponsored by mutual fund management or securities companies, real estate funds managed by it, and collateralized fixed income products sponsored by trust companies that provide investors with fixed rates of return.
It also offers private equity funds products comprising investments in various private equity funds sponsored by domestic and internal fund management firms, estate funds and fund of funds managed by the company, 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 insurance products.
The company serves high net worth individuals; enterprises affiliated with high net worth individuals; and wholesale clients, primarily local commercial banks and branches of national commercial banks that distribute wealth management products to their own clients.
Shares of this stock have formed a bullish "cup & handle" and higher prices are expected for this stock. Note that the Central Bank of China cut its benchmark rate by 50 basis points over the weekend!
52-Weeks Trading Range: $12.35 to $25.60
Entry Point: $23.10
Stop Loss: $21.90
Target Price: $25.45
NOAH fell below our stop loss. Closed at $21.50
