Long Position on IQ @ $20.00 on 4/17/2018 (Momentum)

iQIYI, Inc. (IQ) provides online entertainment services under the iQIYI brand name in China.

The company operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

It provides membership, content distribution, live broadcasting, and online gaming services. The company was formerly known as Qiyi.com, Inc. and changed its name to iQIYI, Inc. in November 2017. iQIYI, Inc. was incorporated in 2009 and is based in Beijing, China. iQIYI, Inc. is a subsidiary of Baidu Holdings Limited.

The Company licenses its contents from Netflix. Shares of this recent IPO should receive a boost from Netflix's strog results. Prior to Netflix earnings, shares had formed a bullish "cup and handle" and today shares should breakout to the upside.

Entry Point: $20.00

Stop Loss: $19.00

52-Weeks Trading Range: $15.30-$19.94

Target Price: $22.00

Updates

5/8/2018 10:27:46 AM

IQ closed at $16.59

Position closed on 5/8/2018 at price of $0.00 with a 0.00% gain in 21 days.

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