Chinese internet concept stocks, including YOKU has shown appreciation due to optimistic and speculation on profits on chinese social network websites. YOKU has been trading with huge volatility since Aug. A tight channel has formed for the past two weeks with a 5% jump with a spike in volume yesterday. YOKU still closes within the channel. With the RSI greatly supports by the 50-level, YOKU can run up to $26.37 if trend continues.
The picture on SINA is better and more bullish than that of YOKU. With a bullish MACD Crossover around the corner and golden cross in June, SINA has trying to breakabove its high in August again. Heads up for a double top pattern if the uptrend turns around with a huge volume.