EFUT (Nasdaq) – float 1.8 mln / short interest 24%With Chinese stocks starting their next move upwards, do make sure to take a peek at EFUT, which is traded on the NASDAQ. EFUT (E-Future Information Technology) has a float of 1.8 million shares, with nearly 25% of them sold short! The company is making money, has a low P/E and is on the cusp of running into the $25-$32 levels.Check out the chart setups on EFUT:http://stockcharts.com/charts/gallery.html?efutThe Point & Figure setup is giving us a $35 potential target on EFUT. It is now trading above the 5, 10, 20, 30, 50 and 200 day moving averages, and the RSI and MACD are confirming this.EFUT has broken the downtrend with the recent breakout above $18, and is forming a bull-flag. A break of $21.50 level will have it zoom up to $25-26, which is the next area of resistance.The EFUT shorts are in trouble.
Thanks, I will look into it.
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