Long Position on QFIN @ $42.00 on 6/30/2021 (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.

360 DigiTech, Inc reported 1st Quarter March 2021 earnings of $1.28 per share on revenue of $549.3 million. The consensus earnings estimate was $0.78 per share on revenue of $555.3 million. Revenue grew 22.3% on a year-over-year basis.

This stock should see an increase in share prices as it forms a "bullish cup and handle" formation.

Entry Point: $42.00

Stop Loss: $40.00

Trading Range: $9.67 - $45.00

Target Price: $46.20

Position closed on 8/5/2021 at price of $40.00 with a -4.76% loss in 36 days.

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