Sogou (NYSE:SOGO) : Freshly out of a mid term base. (Bullish)
Sogou is a chinese search engine company similar to baidu and count tencent as its major shareholder.
The recent Chinese IPO that broke out of a very nice inverse head and shoulders base recently. A call was given by us at round number of $11 last thursday.
Chart analysis of sogou and why I am bullish on Sogou in the medium term.
As you can see sogo broke out of medium term down trendline and also the neckline of an inverse head and shoulders pattern at near 10 dollars recently. (Chart drawn on 8 jun 2018)
On the hourly chart on 8 Jun 2018:
Hourly chart shows a very nice bull flag and a breakout at 11.13 last week.
As such in the short term and the medium term I am bullish on Sogou and personal tp in the mid term would be $20. Please dydd not a buy or sell call.
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