10th August Q2 2020 Phoenix New Media Ltd Earnings Release
Phoenix New Media
Price Target: $5.50
Phoenix New Media Limited is a media company providing content on an integrated platform across Internet, mobile and television channels in China.
The Company enables consumers to access professional news and other information, and upload text and images (UGC) on the Internet and through their mobile devices.
It also transmits its UGC and in-house produced content to television viewers primarily through Phoenix TV.
In addition to professionally produced content, content from Phoenix TV and its in-house produced content, the Company allows its users to UGC to its Websites and mobile applications.
It operates in two segments: net advertising services and paid services. It provides its content and services through channels, including ifeng.com channel, video channel and mobile channel, and also transmits its content to television viewers, primarily through Phoenix TV.
Together, these channels form a single converged platform providing integrated text, image and video content.
Shayne Heffernan Trade Idea
“Our current price target of Phoenix New Media will come in around $5.50 giving the stock a price increase of +271.62%.”
Overall, the bias in prices is: Sideways.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 1.48.
The projected upper bound is: 1.63.
The projected lower bound is: 1.33.
The projected closing price is: 1.48.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 17 white candles and 29 black candles for a net of 12 black candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 32.2506. This is not an overbought or oversold reading. The last signal was a buy 1 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 51.22. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 59 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -93. This is not a topping or bottoming area. The last signal was a sell 6 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 2 period(s) ago.
Rex Takasugi – TD Profile
PHOENIX NW MEDIA closed down -0.040 at 1.480. Volume was 11% above average (neutral) and Bollinger Bands were 24% narrower than normal.
Open High Low Close Volume 1.500 1.510 1.465 1.480 171,680
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 1.53 1.41 1.64 Volatility: 63 66 63 Volume: 600,659 205,588 125,640
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
PHOENIX NW MEDIA is currently 9.6% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods.
Our volume indicators reflect moderate flows of volume into FENG.K (mildly bullish). Our trend forecasting oscillators are currently bullish on FENG.K and have had this outlook for the last 14 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.