Qihoo 360 Technology (QIHU), an Internet and mobile security provider in China, has been a Jekyll-and-Hyde stock this year, moving up sharply early in 2014 only to crash and burn. It has recently built a nice base and may have found its footing. The resistance line comes in around 101 or so. Though the stock made a couple of attempts to cross that line, it was soundly rejected until Monday, when it zoomed past with power and force. Volume was elevated as well and indicators are showing there is some nice energy and more upside to be had.
As for an options trade, we picked up some Sept 110 calls that buy us time and an earnings report as well. I think this stock has the potential to move quickly back toward its all time highs.
