Tuesday, May 15, 2018 1:04:35 PM
Shares of Chinese retailer Vipshop Holdings Limited (VIPS) collapsed 20% on Tuesday after the company reported earnings and issued weak guidance for the coming quarter. From December 2017 to March 2018, Vipshop Holdings had gained over 100% but had seen lots of distribution selling over the last month or two. Big money knew what was coming it appears. As a technical trader, I am expecting further selling from retail investors, driving shares of Vipshop Holdings to $8.45. The stock is currently trading just over $12.00/share. Once at $8.45, the technical chart will have filled the gap from December 2017 and become a strong bounce/buy swing trade. Technically speaking, this is the ideal entry point offering the best reward for the lowest risk.
Gareth Soloway
InTheMoneyStocks
Recent VIPS News
FEATURED Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • Apr 25, 2024 8:52 AM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
