Riding The Momentum Of China Automotive Systems

There is not much more to say about China Automotive Systems (CAAS) than what you can’t already see from the chart.

Basically we got consecutive days of large volume blocks, massive price swings higher, and a crossing of the 50-day moving average.

All this lines up for a great momentum play with prime stop positions in place.

The first price target is at $22, and, if we can fill that gap, look for $26.