New Oriental Education (EDU)
By Tue, Jul 14, 2020
Hey there,
Chinese internet has been on an absolute tear lately.
We’ve looked at multiple Chinese Internet stocks here over the last few weeks, all of which are going strong.
Now we’re back with another sector opportunity; New Oriental Education (EDU).
China is showing strength right now.
Internet is showing incredible strength with everyone being remote.
And New Oriental Education (EDU) is showing great positive momentum and a ton of relative strength.
We like EDU if (and only if) it’s at $144.
Above $144 we are LONG until the next extension target at $200.
Til next time, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
