Long Position on QFIN @ $24.50 on 4/8/2021 (Fundamentals)

360 DigiTech, Inc. (QFIN), through its subsidiaries, operates a digital consumer finance platform under the 360 Jietiao brand in the People's Republic of China.

Its platform provides online consumer finance products to the borrowers funded by institutional funding partners. The company also provides incremental credit assessment, collection, and other services, as well as guarantee for defaulted loans.

The company was formerly known as 360 Finance, Inc. and changed its name to 360 DigiTech, Inc. in September 2020. 

The stock reported Quarter December 2020 earnings of $1.18 per share on revenue of $511.5 million. The consensus earnings estimate was $0.94 per share on revenue of $621.4 million. Revenue grew 48.3% on a year-over-year basis.

This stock's "upward trading channel" formation and 50-day moving average suggests that share prices should be moving higher over the next few weeks.

Entry Point: $24.50

Stop Loss: $23.30

Trading Range: $7.16 - $35.15

Target Price: $27.00

Updates

4/23/2021 11:58:28 AM

QFIN closed at $26.40

Position closed on 4/23/2021 at price of $26.40 with a 7.76% gain in 15 days.

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