UXIN Chinese used car e-commerce platform Uxin saw bullish unusual options activity today with about 5.5k $4.00 strike (deep ITM) Feb'19 calls traded for a total premium of about $3M against OI of under 1k. Uxin recently announced that it had entered into a partnership with the world’s largest online marketplace Taobao (owned by Alibaba
BABA). The stock is approaching its all time high just under $10.50 after a 15%+ gain today. Expecting some resistance around the prior high then a turn back up to fresh highs by mid to late January. Based on Fibonacci levels, next target after retaking $10.50 will be about $12.50
Note: Informational analysis, not investment advice.
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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.