Dr. Thomas Carr's  Instablog

Dr. Thomas Carr
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Dr. Thomas K. Carr (aka “Dr Stoxx”) is the Founder of DrStoxx.com (formerly “Befriend the Trend Trading”). He holds M.Phil. and D.Phil. degrees from the University of Oxford. For 16 years he was a tenured professor and department chair. He currently is a fulltime trader, market analyst, trading... More
My company:
DrStoxx.com
My blog:
DrStoxx.com
My book:
Market-Neutral Trading
  • AutoHome Ready To Pop Higher! 0 comments
    Feb 18, 2014 4:29 PM | about stocks: ATHM

    AutoHome (NYSE:ATHM) is the Chinese version of Autotrader, an online portal for car sales and buyer information. Though a Chinese company, AutoHome is backed by Telstra, a Australian telecom and media conglom. Telstra bought 55% of Autohome's parent company in 2008 for just $76 million in an effort to get in on China's rise. Today, the Australian company owns 66.2%, a stake worth over $2.4 billion at current prices.

    AutoHome reports earnings next week. The chart below shows a range-breakout forming. A strong close over $39 would put the pattern target of $50 into play, or a return of about 40% above today's price.

    2-hour chart of ATHM

    Disclosure: I am long ATHM.

    Stocks: ATHM
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