Great Potential in Youku.com Inc (ADR)
The hard beaten Chinese stocks present great buying opportunity for the high quality ones such as the Beijing based Youku.com Inc (ADR) (NYSE:YOKU). For those of you who never heard of the company, it is also called the Youtube of China. However beside the user generated video content, Youku.com also partnered with 1,500 license content holder include recent partner with Time Warner(TWX). Since going IPO last December, YOKU traded as high as $70 per share in April of this year but dropped to 52 weeks low of $26 per share in mid June on overall Chinese stock weakness. Bargain hunters saw the opportunity and the stock is now trading at $36.73 per share. The stock has current support $30.89 and resistance at $42.1 per share.