Noteworthy Price Action: Could ChinaCache Internatnl Hldgs Ltd (ADR) See a Reversal After Breaking All Highs?

Noteworthy Price Action: Could ChinaCache Internatnl Hldgs Ltd (ADR) See a Reversal After Breaking All Highs?

The stock of ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) reached all time low today, Nov, 11 and still has $2.46 target or 12.00% below today’s $2.79 share price. This indicates more downside for the $72.65M company. This technical setup was reported by Barchart.com. If the $2.46 PT is reached, the company will be worth $8.72M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 4.12% or $0.12 on November 11, hitting $2.79. About 47,237 shares traded hands. ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) has declined 67.67% since April 11, 2016 and is downtrending. It has underperformed by 73.81% the S&P500.

According to Zacks Investment Research, “ChinaCache International Holdings Ltd. provides Internet content and application delivery services to businesses, government agencies and other enterprises in China. The Company deploys servers and nodes across networks throughout China and uses a private transmission backbone that connects the nodes and data centers. The services offered by ChinaCache include web page content services, file transfer services, rich media streaming services, guaranteed application services, and managed internet data services, content bridging services and other value-added services. It also provides various integrated solutions to Enterprises, Financial Institutions, and Government Agencies and to the Media, Mobile Internet, and Online Games, E-commerce, Internet and Software Services industry. ChinaCache International Holdings Ltd. is headquartered in Beijing, People’s of Republic of China.”

More important recent ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) news were published by: Quotes.Wsj.com which released: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011, also Wallstreetpr.com published article titled: “Chinacache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) Not Letting Dust Settle On …”, Nasdaq.com published: “Sky-Mobi Leads Gains Among Asian ADRs After Selling Tech Stake; Chinese Solar …” on June 18, 2014. More interesting news about ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) was released by: Bloomberg.com and their article: “Chinese A-Share ETF Falls Most in Month in New York; ADRs Drop” with publication date: October 22, 2015.

CCIH Company Profile

ChinaCache International Holdings Ltd. (ChinaCache), incorporated on June 29, 2005, is a holding Company. The Firm provides a portfolio of services and solutions to businesses, government agencies and other enterprises to manage the scalability of their online services and applications. The Company’s across the nation service platform, which consists of its network, servers and software, is designed to handle planned and unplanned peaks without upfront and ongoing capital outlay and other investments on the part of its customers. It provides a portfolio of content and application delivery total solutions and solutions tailored to its customers’ needs. It provides various services that are offered on a standalone basis or combined as part of its integrated solutions, such as Web Page Content Services, File Transfer Services, Rich Media Streaming Services, Guaranteed Application Services, Managed Internet Data Services, ChinaCache Cloud Services, Content Bridging Services, Internet Exchange and Data Center Services, Mobile Internet Solutions, Value-added Services, Cloud Infrastructure Development and Customer-tailored Integrated Solutions.

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