Long Position on DOYU @ $11.00 on 6/29/2020 (Momentum)

DouYu International Holdings Limited (DOYU) operates a platform on PC and mobile apps that provides interactive games and entertainment live streaming in China.

Its platform connects game developers and publishers, professional eSports teams or players and eSports tournament organizers, advertisers, and viewers.

The company also sponsors eSports teams and organize eSports tournaments. In addition, it streams other content to include a spectrum of live streaming entertainment options, such as talent shows, music, outdoor, and travel.

Further, the company records and offers video clips to allow users to watch replays of selective live streaming content; and allows viewers and streamers to edit and upload short video clips by themselves. Shares of this recent IPO have formed a bullish "flag" and are expected to break higher out of this formation.

Entry Point: $11.00

Stop Loss: $6.11 to $11.88

Trading Range: $10.30

Target Price: $12.10

Updates

6/30/2020 9:42:43 AM

DOYU closed at $12.40.

Position closed on 6/30/2020 at price of $12.40 with a 12.73% gain in 1 days.

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