$IQ
Added 2024-08-26 15:44:14 +0000 UTC$IQ dropped post earnings, in spite of its double beat but revenue growth was down.
Once the wedge broke down, it's been in search of support and for July and August, it was holding on the 0.788 Fib at $3.
A number of analysts came out since the earnings to revise down their targets which were between $7 - $10 before we bought.
I managed to avoid a lot of the selling and now I am in a position to consider adding here if support is found
$IQ has over 200 million subscribers and their FCF and Cash remain strong, they will likely need another earnings to prove to the market that the worst is behind them but like I said
I am not against adding here again
Losing the 0.88 Fib and you need to expect a test of the 2022 low on the blue line at $1.65...this level will need to hold.
A company does not simply lose 200 million subscribers in 1 quarter.
Comments
US job additions were just revised lower by 818,000 ; largest revision since 2009 ...
niorthey
2024-08-26 17:49:36 +0000 UTCThank you Longi. It is a Chinese company. The numbers, let's say it gently, might be not very accurate 🤔
Avner Maimon
2024-08-26 16:14:26 +0000 UTC
