MOMO which recently had earnings and a nice reaction to it has consolidated for a couple days right at its yearly highs. Today we are breaking a key level that has been holding all year.
MOMO has a lot of things going for it.
Chinese Stock- Tons of momentum in this sector. HUYA, IQ and many others are really ramping this past month . the whole sector is on fire.
Great Daily range. - MOMO can move 5-7% a day it moves quick and can be explosive
Very liquid with VOLUME EXPANSION. The last week you have seen volume expand out of its normal range.
We should see a nice run in this maybe to 60 over the next couple weeks.
MOMO has a lot of things going for it.
Chinese Stock- Tons of momentum in this sector. HUYA, IQ and many others are really ramping this past month . the whole sector is on fire.
Great Daily range. - MOMO can move 5-7% a day it moves quick and can be explosive
Very liquid with VOLUME EXPANSION. The last week you have seen volume expand out of its normal range.
We should see a nice run in this maybe to 60 over the next couple weeks.
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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.