4 Chinese Stocks Taking Off

Noah Holdings Limited (ADR) (NYSE:NOAH), E Commerce China Dangdang Inc (ADR) (NYSE:DANG), YY Inc (ADR) (NASDAQ:YY), and 500.com Ltd (NYSE:WBAI) are breaking out today

Jul 9, 2015 at 3:17 PM
facebook X logo linkedin


Chinese stocks are going gangbusters today, after the Shanghai Composite jumped nearly 6% overnight. This stands in stark contrast to the prolonged sell-off among Chinese equities, leading some to speculate this may be a dead-cat bounce. Whatever the case may be, several names have made notable upward moves, including Noah Holdings Limited (ADR) (NYSE:NOAH), E Commerce China Dangdang Inc (ADR) (NYSE:DANG), YY Inc (ADR) (NASDAQ:YY), and 500.com Ltd (NYSE:WBAI).

NOAH was last seen 17.6% higher at $25.36, bringing its year-to-date lead north of 21%. However, shares of the wealth management firm stalled out at their descending 10-day moving average, above which they haven't finished since mid-June. Traders are bracing for a sharp reversal lower. The stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 10.63 ranks just 2 percentage points from an annual peak. Also, over 24% of Noah Holdings Limited's float is sold short, representing more than eight days of trading, at typical volumes.

Elsewhere, DANG and YY are both considerably higher, after receiving buyout offers from their respective CEOs (which has been a trend lately). Specifically, DANG is up 4.8% at $6.82, while YY has popped 3.1% to trade at $60.18 -- though both stocks remain solidly in the red for 2015.

On the sentiment front, E Commerce China Dangdang Inc has already been met with much skepticism. Six of seven analysts consider the shares a "hold" or worse. However, this isn't the case for YY Inc, where over 83% of brokerages have doled out "strong buy" opinions.

Finally, WBAI has shot up 11.1% to $18.91 -- though it was even higher earlier. The bull gap has brought the online lottery stock back into positive year-to-date territory, too. Should 500.com Ltd sustain this momentum, short sellers may be forced to the exits. Despite slipping 4% during the latest reporting period, short interest on the security represents close to 29% of WBAI's total float.
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI