We’ve seen a lot of strength in the Chinese internet group for the past year, especially over the last few months. I think if you glance over to another major emerging market, there is also money coming into Indian Internet stocks, namely Rediff.com India Limited (REDF).
Rediff.com India limited provides online internet based services with a focus on India and the global Indian Community. Technically I’ve seen a few set ups here. Now it looks ready for new highs. I’m long tier one and will look to add above $9.50-9.90 for a move to new highs. Typically you want to see big volume to support such a break out. Stops would be $8.80.
*DISCLOSURE: Long REDF
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