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We had recommended this stock at $33.00. Now that shares have pulled back, we are going to average down on the position.
Cheetah Mobile Inc. (CMCM) operates a platform that offer mobile and PC applications for users and global content distribution channels for business partners in China.
The companys suite of applications optimizes mobile and PC Internet system performance and provides real time protection against known and unknown security threats.
Its mobile and PC applications for users include Clean Master, a junk file cleaning, memory boosting, and privacy protection tool for mobile devices; CM Security, an anti-virus and security application for mobile devices; Battery Doctor, a power optimization tool for mobile devices; Cheetah Browser, a safe Web browser for PCs and mobile devices; and CM Launcher, which is a secure launcher that offers acceleration, secure protection, and stylish wallpapers, as well as automatically organizes mobile phones based on personal behavior; Photo Grid, a photo collage application that allows users to create professional looking collages of photos through an intuitive interface for mobile devices; and Duba Anti-virus, an Internet security application for PC and mobile devices.
The company also offers various products for its business partners, which include mobile advertising platform that helps customers reach their target audience through its mobile applications; Duba.com personal start page that aggregates online resources and provides users access to their online destinations; Web and mobile games in various genres, such as MMORPGs, first person shooters, action, adventure, sports, puzzle, and childrens games; and cloud-based data analytics engines. It serves e-commerce companies and search engines.
Shares have formed a bullish "cup & handle" following the company's recent quarterly resport, and higher share prices are expected for this stock.
52-Weeks Trading Range: $14.76 - $36.63
Entry Point: $26.50
Stop Loss: $25.15
Target Price: $30.50
CMCM reached our target. Closed at $29.40.
