Entered this trade on Friday at $2.68. First target around 277-280 and second target around 285-288. Cut loss below the 260 thereabouts.
Fundamentally the stock should ride on the e-commerce success in Asia, especially China and the company has many analysts with buy calls on it and target price >$3. However, the valuation is too rich for my liking. For this space, I prefer CWT and is looking to enter CWT for my SRS account for a longer term play.
Happy trading.
