Bitauto stock went through a consolidation phase that led it to an attractive entry point.

According to Surperformance© ratings, the company constitutes an opportunity for a trading strategy. Indeed, it usually posts better-than-expected financial statements and the enterprise valuation conciliates with its visibility. Moreover, brokers regularly revised upward their revenues' estimates and target on average a 52% appreciation potential.

The security follows a downward trend in the short term, but stays in a bullish trend on the long term. The stock fell sharply upon contact with the USD 92.6 long term resistance, and came back on its support at the lower part of its USD 97/62 trading range. This threshold is likely to stimulate a technical rebound.

Considering those elements, it seems to be an appropriate timing to immediately open a long position on the stock. A first target price can be set at the USD 74.05 resistance, and if crossed, the USD 96.2 by extension. A stop loss order will be placed under the mid-term support currently tested.