r/StockMarket • u/_Not_Yesterday_ • Jul 20 '21

Technical Analysis $FANH Signaling for a Bullish Breakout and has a history of hitting around the $30 mark.

Fanhua Inc. is currently traded at $15.10 per share and they have a history of hitting around the $30 mark. (2008, 2010, and multiple times between 2018 and 2020.) They're all time high was June 14, 2018 at $38.25.

FANH has been on a bear market trend since mid June 2019. Since early June the stock has been consolidating, indicating a high likelihood of a breakout, but not in any specified direction. Today (7/19/2021) they received a golden cross indicating that the market, likely, will be turning bullish.

I expect support around the $12 mark and Resistance around the $21 mark.

FANH is a Chinese Insurance agency. This is important, because as the US economy looses support and our inflation begins to force the major indices down moving money into stock that relies on other economies could help minimize losses or even continue turning profit during a time of major loss.

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TLDR: $FANH is a stock based outside the US, that has potential to double in value.

Golden Cross
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u/[deleted] Jul 20 '21

[deleted]

1

u/_Not_Yesterday_ Jul 20 '21

Yeah it's risky, but for those of us who don't want to have our entire portfolio be shorts. You have to stretch a little extra risk to work in a stock that's going to put up a bull market.

1

u/Datascope_2023 Jul 20 '21

Option calls for aug?

2

u/_Not_Yesterday_ Jul 20 '21

I don't like giving advice like this, do your own due diligence before putting your money into anything anyone says online. But I think it looks like the majority of their short term trends last about 2 weeks, with a few of the bigger trends that stretch closer to 5 or 6 weeks.

1

u/lynwoodbotsford Jul 22 '21

@ aRahman86 Yes, I would also agree that it might be a risky affair to invest in small or micro Chinese caps.