This morning I added Kongzhong (KONG) to the Barchart Van Meerten New High portfolio for very positive price movement. This is one Chinese ADR that you should put on your watch list.
I know many investors are investing in Chinese ETF's but I think you have a better opportunity if you invest in individual Chinese ADRs selectively rather than Chinese baskets of stocks.
- 96% Barchart technical buy signal
- 11 new highs and up 39.27% in the last month
- Relative Strength Index is 81.09% and rising
- Trades around 10.07 with a 50 day moving average of 7.51
- Wall Street brokerage analysts have published 1 strong buy and 2 hold recommendations
- Sales are projected to increase by 16.90% this year and 16.60% next year
- Earnings are estimated to increase by 62.10% this year, 27.70% next year and 15.00% annually for the next 5 years
- The general investing public is looking for Chinese ADRs and have found this one
- The CAPS members on Motley Fool vote 988 to 50 that this stock will beat the market
- The more experienced All Stars agree 328 to 11