After MVIS made a breakout screen yesterday, today we got another iBC (slightly lesser) legend making an appearance. Lady and Gents, welcome back Xinhua Finance Media Limited (ADR) [[XFML]]:
That's a nice looking double bottom, confirmed by today's price action breaking through the horizontal resistance @ $1.25.
As an aside, take a moment to let that price sink in...XFML was one of 'The Fly's first ever picks at this new site (almost a full year ago). At the time, it was trying to break above $10. Wow! 1 year and -90% later...
Anyway...look for a retest of $1.25 for optimal entry on the long side. Earnings coming up in a week and a half, which have traditionally resulted in classic pre-earnings hype and sell-the-news scenarios.
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