Long
US Stock In Play: $CD (Chinadata Group Holdings Limited)
CD closed with a major breakout this morning, leading the way as the best performing mid cap stock on the Eve of the New Year, closing at $23.96 with an intraday gain of +18.03%.CD traded back above its 20DMA on 4th November, after a short term decline of -17.51% upon its 30th September 2020 IPO high. Price action continues to hug the 20DMA over the course of following 38 market session, with consolidation observed below $20 round number resistance level since 4th December. The cumulative gain since 4th November totals at +72.50% in a brief 6 weeks period.At the current junction, its price volatility is at its all time high of $1.50/day with
CD likely to trade outside a 6.5% daily range in the upcoming week.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.