Still going…. Yirendai (YRD) continues to run into earnings. Here is an update on this trade. (March 07, 2017)
I want to go back to Yirendai ( NYSE:YRD ). The stock, again, is coming out of a squeeze, it’s another day up another 5 percent, this is just working. They report earnings in another week so I am just bringing it back to your attention. This is a Free Chart video, but it really shouldn’t be free, it should actually be a credit. What I mean by that is, I am giving you this trade, I am sure you find plenty on you own, but when I can find trades like this I will kick them out there.
This is a stock that is working. It is up 6 days in a row, and I count this as an up day simply because it gapped down and then closed higher on the day. Over the last 3 days you have got heavier than average volume. The company reports earnings in a week. We looked at this several days ago and I said, “I think it could get to 30.00 before they report earnings.” With this kind of momentum I think this stock can push through 30.00 and move higher.
So my suggestion is, go ahead and take a position here, if you haven’t already. And then we will figure out what to do with it next week before earnings. They report on the 15th, next Wednesday, we will figure out what to do with it before earnings. But for now ride this puppy. It is taking you northward and that is where you want to be.