Vipshop Holdings Limited : The bullish trend continues
Entry price | Target | Stop-loss | Potential |
---|
US$31.01 |
US$0 |
US$28.6 |
-100% |
---|
The target price (USD 28.4) of our last short term strategy we made on 7 March 2013, on Vipshop Holdings, has been reached with a performance of approximately 23%.
We still think the security will continue its ascension and reach new historical highs.
From a technical viewpoint, the security is moving in a very bullish channel since September 2012 and do not shows any signs of weakness, as shown by sharply increasing moving averages. Now, prices are near to the lower limit of the bullish channel and are supported by the 20-day moving average. This configuration may allow the stock to continue its rise and reach USD 35.9.
In consequence, investors can take a long position in Vipshop Holdings with a first target price at USD 35.9. A stop loss will be fixed under the USD 31.5 short term support.
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