Interesting view on MOMO
I picked the timeframe of the superior uptrend and downtrend of Momo and draw the same sideways formation before the big jump 2015-16.
And what a surprise, there are similarities about the price action.
1. IPO prices sinks
2. Rises back
…and so on
Momo is a free social search and instant messaging mobile app for Millions of Chinese people. The app allows users to chat with nearby friends and strangers. You could compare them with the dating platform Tinder (Match Group inc.) the only bigger difference would be that they are not really profitable.
I still believe that Chinese stocks are very risky. But if this goes as it is indicating us, it is a worth a shot.
And what a surprise, there are similarities about the price action.
1. IPO prices sinks
2. Rises back
…and so on
Momo is a free social search and instant messaging mobile app for Millions of Chinese people. The app allows users to chat with nearby friends and strangers. You could compare them with the dating platform Tinder (Match Group inc.) the only bigger difference would be that they are not really profitable.
I still believe that Chinese stocks are very risky. But if this goes as it is indicating us, it is a worth a shot.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.