I think Bitauto (BITA) has more upside potential, and I can identify a relatively low risk setup via a 30-minute chart. But let's start with my bullish case on the daily chart.
I have to admit, this is coming late to the party, but that does not mean you can't make money on this stock. Note that the last low, from Oct. 13, was made at the confluence of at least five Fibonacci price relationships that came in between $60.23 and $62.74. On this same daily chart, you can see that there were also a few timing cycles at that last low.
We've already seen a nice rally off that initial level, but if this setup is going to play out fully, I still see upside potential in this stock at the $107.90 area. This is simply the 1.272 extension of the swing into the price-cluster zone, which is always my first target for a trade setup.
I don't want to be a buyer at current levels, as my risk would then go all the way back to below the Oct. 13 low. This is why I'm going to refine an entry on a 30-minute chart by doing the same type of work that I do on the higher-time-frame charts.
On the 30-minute chart, above, you can see that there's a bullish pattern of higher highs and lows, and that will persist as long as the $77.15 swing low remains intact. I have identified a key support decision -- $78.68 to $79.70 -- which is based on multiple Fibonacci price relationships that come in above that key swing low.
So far the stock has held above this key support decision, and if it continues to do so, I will look at taking buy triggers in Bitauto. I'll define my maximum risk below the $77.15 swing low. The initial upside targets on this time frame come in at $87.27, $89.31 and $95.22.
If the support does not hold up, I will consider that trade setup a bust.
Please refer here for more information on trade triggers.
See here for general guidance on Fibonacci trade setups.