AI
Wednesday, August 08, 2018 12:02:15 PM
Autohome Inc (NYSE:ATHM) is an online destination for automobile consumers in China. Earlier today, the company reported earnings that are not being well received by the markets. The stock is trading lower by more than 9.0 percent to $86.58 a share. Traders should note that the stock is now trading down into its 200-day moving average. This key support area is holding up as support right now, but a close below it could signal more selling in the shares. The next key support area for ATHM stock will be around the $70.00 level. This is where the stock will have a major retrace level on the chart and should be defended. It is also important for traders to understand that the Chinese market is down trending and trading lower by nearly 17.0 percent this year.
Nicholas Santiago
InTheMoneyStocks
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