Qudian (QD)

[PURA VIDA]

Okay. Excellent profits thus far on a great run from the $5.00 level on the bounce. With the Kunlun buyout news, a break-away gap from the $5.20 level. Now, we have met the 200 EMA resistance on the 1 year daily chart. Thursday, we paused at 6.68 with resistance being at 6.71. Today, we broke through 6.71 ever so briefly for 20 minutes while the bulls and the bears were fighting fiercely. The bears won the battle from above the 200 EMA, but the bulls were successful keeping it from falling below the 10minute EMA at the 6.60 area. Now what's next? For me, it is watching and waiting to see if the 6.77 area can be taken out with some strength, OR, if the 6.60 support line will be crushed and we move back down to fill the gap at the 5.20 area. This one has been a roller coaster, but if you are ready, you can make GREAT money both long and short here.

Pull up the Daily 1 year 200 "EMA" chart and you will see why we are currently stalled in this trading range of 6.77 to 6.60

Only time will tell, I will be ready either way - long or short.

Best of success traders.