YY- YY Inc. – Weekly Chart.

Is this Chinese online social networking service provider setting up for a breakout?

Not only has the trend changed recently, but there are clear signs of institutional (mutual fund) accumulation (buying) in the base. Still needs some time to lengthen the current base formation (4-6 more weeks should do it) and then the buy point would be at 61.62 on good volume for the day (40-50% above daily average volume is needed to sustain a breakout).

Here’s the chart for this Chinese internet stock:

YY - YY Inc. Weekly Chart