Long Position on YRD @ $35.00 on 8/11/2017 (Momentum)

Yirendai Ltd. (YRD) operates as an online consumer finance marketplace that connects borrowers and investors primarily in the People's Republic of China. It offers standard and fasttrack loan products.

The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co., Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co., Ltd. (Heng Cheng).

Heng Cheng operates its Website, www.yirendai.com, and has an Internet content provider (ICP) license as an Internet information provider. Its online marketplace facilitates standard loan products, express loan products and vertical loan products to borrowers.

Uses for these loan products include home remodels, durable good purchases, travel and continuing education.

Its online marketplace provides investors with various investing tools, such as automated investing tool and self-directed investing tool. It maintains a secondary loan market on its marketplace where investors can transfer the loans they hold prior to maturity at the fair value of the remaining loans.

The company also provides investing tools. The company was founded in 2012 and is based in Beijing, the People's Republic of China. 

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock. Note that the formation is supported by the stock's 30-day moving average shown in brown.

52-Weeks Trading Range: $18.80 - $42.34

Entry Point: $35.60

Stop Loss: $34.00

Target Price: $39.20

Updates

8/14/2017 9:33:12 AM

YRD closed at $39.80

Position closed on 8/14/2017 at price of $39.80 with a 13.71% gain in 3 days.

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