XING

[Maestro]

AussieTrader, working on it now, I decided place the stop order, and in addition I created this trigger:

"If XING's last is greater or equal to 9
Sell xxx XING at limit $9.2"

Thanks for the help you gave me.

Maestro

P.S. My apologies to the moderators and other members, but while I have been trading stocks for decades I am new on 3SOF, with its greater finesse in trading, but within a few days I shall have learnt the ropes and shan't need to clutter the threads here with what must seem like rather silly questions to everybody else.

[Ramsburg]

A normal day of profit taking from recent gains while approaching the $8.54 resistance level...
No reasons to worry yet, XING's technical pattern is very strong.

The trading plan will be the same:
Hold XING, with a stop @ $7.15 and a limit sell order @ $9.20

[Ramsburg]

Friday was another positive session for XING, average volume, with the stock consolidating the recent breakout. No news, or events to report... I'm curious to see how it will be the reaction on $8.54 which is the main barrier on this trade, probably with some selling pressure on that price level...

The trading plan will be very similar, just updating the stop level, since it's related with an ascending support:
Hold XING, with a stop @ $7.25 and a limit sell order @ $9.20

[Ramsburg]

Great day for XING ! Another breakout with good volume, setting a new high since 2004.

The target for this short term trade: $9.20....
Well, our target will probably look ridiculously low in a few months, taking in consideration not only the strong technical pattern that XING is developing on its long term chart, but also considering the trustable rumour about the expectable IPO of CECT (the main subsidiary of XING) to be announced at any moment.

About this IPO I have to quote Michael on a post published few weeks ago:

I worked on the numbers yesterday but didn't save the spreadsheet so here is a short version:

XING owns 72% of CECT. An IPO will probably be priced at a forward PE of around 15 but lets be conservative and say 10.

CECT earned $29 million last year and That was a 100% increase in profit. Let's assume profit only increases with 20% this year (highly unlikely)

So with forward earnings of 34.8 million CECT's market Cap at a PE of 10 would be $348 million. XING share of this is 250 million (72%).

XING's market cap is 125 million. Not only is that half of CECT's expected value but this also include the rest of XINGS business.

XING is the second largest distributor of fixed phones and cordless phones in China. They have a low-end brand of mobile phones in addition to CECT. They make a number of other products.

Well the value of XING has always been therefore everybody to see but with the CECT IPO the valuation becomes ridiculous IMHO.

Technically speaking, XING was on a down trend since 2004 (consecutive lower highs), hitting the lows during 2005 on a double bottom pattern...  The first clear bullish signal was on the end of 2005, at that time XING did breakout the previous relative high, touching $8.54. Today XING traded above $8.54 with strong volume, and the next relative high it's $11.24, this gives a strong potential to any up move from here.

Well, we are trading short term, so we are keeping our plan for now, and dream about $11.24 later :
Hold XING, with a stop @ $7.25 and a limit sell order @ $9.20

Best regards,

[Melf Elf]

Frederick,

Very nice job on your XING analysis.  Applause

Great day for XING ! Another breakout with good volume, setting a new high since 2004.

The target for this short term trade: $9.20....
Well, our target will probably look ridiculously low in a few months, taking in consideration not only the strong technical pattern ...

XING does look strong, technically, and I've got targets of 9.62 and 9.96 IN PLAY.

1. W-Bottom Breakout on November 29, 2005:

That put Target: 9.96 IN PLAY.

Unfortunately, XING went back below the breakout, so the target went ON HOLD, but that wasn't all bad, given the nature of the correction that ensued.

2. Butterfly Pattern (in blue) and Bear Flag (in red) - November, 2005 - January, 2006.

The former also can be considered to be a normal "A-B-C" correction of the prior rally.

a. Leg C of the correction equaled Leg A at 6.43.  The low in January was 6.43 exactly.

b. The Bear Flag target was 6.40.

c. The .618 retracement was 6.365.

The fact that XING held at/near those targets indicates a "normal" correction, and the March 21 Symmetrical Triangle breakout (pattern in green) is confirmation of that.

The chances of you getting your 9.20 target look real good at this point.  Nice work, and good luck!

[usedcasting]

Finally XING, Finally MELF

uc.

[AussieTrader]

Yep, XING was (is) a good call.

I am going to hold this a little longer than the 3Stocks $9.20 target. Just think there is more to come with the CECT IPO and the nice momo building here.
Looks like that $9.20 may come as early as today.

Good Luck

[Ramsburg]

Frederick,

Very nice job on your XING analysis.  Applause

Great day for XING ! Another breakout with good volume, setting a new high since 2004.

The target for this short term trade: $9.20....
Well, our target will probably look ridiculously low in a few months, taking in consideration not only the strong technical pattern ...

XING does look strong, technically, and I've got targets of 9.62 and 9.96 IN PLAY.

1. W-Bottom Breakout on November 29, 2005:

That put Target: 9.96 IN PLAY.

Hi Melf,

Thanks for the great input here! I'm really glad to have you back

When I started to design the trading plan for XING, I opted for a short term position mood, in this case the projection of the symmetrical triangle (with semi-log charting) to $9.20, not a very ambitious plan taking in consideration the big picture on XING...

Now you talked about the ABC correction, and that makes me even think that we are probably just starting a W3 from a significant Elliot move

Regards !

Finally XING, Finally MELF

uc.

Yes, Finally MELF great !!!

Yep, XING was (is) a good call.

I am going to hold this a little longer than the 3Stocks $9.20 target. Just think there is more to come with the CECT IPO and the nice momo building here.
Looks like that $9.20 may come as early as today.

Good Luck

Hi Aussie,

You are probably doing the best decision here... 
But even if we sell @ 9.20, I'm sure this is not going to be our last trade on XING...

regards !

[Ramsburg]

XING started the morning with a gap up, and big surge, almost catching our selling order (6 ticks), and losing a lot of momentum during the rest of the session, closing unchanged. Not a particular good candle, but the market was not helping anyway...

We have no reasons to change our plan for now, since we have real good motives (Technicals and Fundamentals):

Hold XING, with a stop @ $7.30 and a limit sell order @ $9.20

[Ramsburg]

I must confess something:
Every time XING approaches our target / sell order, I think to myself: «I hope it doesn't hit our sell order yet, so I can change the trading plan and set a higher exit point for this position»...

I hate to change plans, and I always say: «Plan the Trade, and Trade the Plan»... but a Trading Plan must be also flexible to new inputs.
The $9.10/$9.14 level is now acting as a resistance level, this zone has stopped XING from going higher 2 times in 3 days. At the same time, XING is holding very well, and probably just consolidating for a new rally.
The problem with our current trading plan, is that if we sell XING at $9.20 we'll be just selling on the middle of a new breakout to new highs... so we have two options:
1) We set a lower sell price
2) We delete our sell order and wait for a breakout.

We have to choose option 2), taking also in consideration our Long Term mood on this stock, the rumors about the CECT IPO and the general bullish outlook on this stock. By doing so (I mean, increasing the risk), we'll also be setting a new stop price.

So the new trading plan is:
Hold XING with a stop @ $7.75 (our entry price)

Best regards,

[Ramsburg]

Not a good Friday for XING... a big red candle :-(
Once again, XING traded above $9 and started to drop. This will make a potential breakout a very strong signal.

$8.54 is the short term support, and XING ended the session a little above that level, so even with this ugly red candle, the main pattern is still untouched.

We'll keep the same trading plan:
Hold XING with a stop @ $7.75

[Ramsburg]

Another day on the range and another good reaction on the $8.54 support level. XING is clearly consolidating the recent gains, and almost ready for a new breakout and a big move above our first $9.20 target.

No special comments for today... we are just waiting with no worries
Hold XING with a stop @ $7.75

[mexirafa]

Hi Rams,

This is such a great stock with lots of potential. I would like to add more shares to the stake if we are setting a higer target. Could you discuss a bit of a safe re-entry point?

Thank you much for your input,
Rafael

[Melf Elf]

XING is clearly consolidating the recent gains, and almost ready for a new breakout and a big move above our first $9.20 target.

There's your first target of 9.20, Frederick.  Applause.

[mexirafa]

 

It hit the first one,



Still holding!

Should we move the stop price below the 8.5 area to protect profits?