Trade Setup
China Automotive Systems, Inc., through its subsidiaries, manufactures and sells automotive systems and components in the People’s Republic of China. It produces rack and pinion power steering gears for cars and light duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronic and hydraulic power steering systems and parts. China Automotive Systems, Inc. also markets automotive parts in North America and Brazil, as well as provides after sales services, and research and development support services.
The stocks founds in the TradersPro Alerts category use a fixed entry and exit point using fibonacci analysis. It is a confirmation strategy that waits for the stock to make a move then a trader enters the trend at specific prices. The .382 fibonacci level of the prior trend is the entry and the .618 is the exit, with the stop loss under the swing low. This typically creates a 1 to 1 reward to risk with a high probability of success. To learn more about the fibonacci snap tool and this strategy you can go here.
