My MOMO prediction.Really depends if we holds this support. I used Fibonacci retracements for targets.
MOMO trade ideas
MOMO - buy you, fools!This is coming directly from Gandalf, honestly. How come a 2.5bil market cap company make about 3 bil a year in earnings? They are restructuring revenue streams and while the revenue has spiked enormously in the past years while earnings are kept about at the same rate, this should change in the future. It is heavily underpriced and perhaps the Chine delisting FUD or the general unlikeness of this stock has pushed prices to around 2016 level and ultimate low of around $10 a piece.
I do not see this going further down, there are massive divergences technically and would place an overweight position on this.
momo Horizontal line support from the pastDear Friends,
MOMO is A Stable stock with high fundamentals
P / E 7.46 Relative low to other stocks
SHORT RATIO was high a week ago but dropped to 5% due to a buying trend
Horizontal line with support from the past
The chance of a price drop is relatively low compared to past results
Purchase over $ 15 when there is an upward trend in a rising green candle
Sell at 20$
No buy or sell recommendation***
MOMO Earning Looks GoodNASDAQ:MOMO
MOMO's earning announcement is tomorrow AMC. Technical analysis indicates the consolidation is almost over and it is waiting for direction breakout.
It looks like the earning may be a pleasant surprise , and the rationale is:
1). Price has been holding above EMA(60) for the last 3 weeks since 2020-08-05;
2). Price has been holding above 2020-07-17 pivot high of $20.02 for the last 3 weeks;
3). Uptrend line since July 17 is holding firm;
4). Volume after July 17 is gradually decreasing.
Let's wait and see a breakout Friday morning.
The one being ignoredIn a time where most stocks have prices that are very very high compared to earnings this stock is interesting.
With the exception of this quarter the total revenue month to month has been amazing on this stock. They also are using very little debt which is ideal going into economic uncertainty. When things start to turn around they have the ability to leverage and pass the remaining competitors that do not go bankrupt in the mean time.
Going after the Generation Z marketGeneration Z lives in a internet connected world the time they were born. They are heavy users of social media, apps and live streaming, a business that many tech/gaming companies are after.
Momo with a Tantan app is like Tinder in the US except this caters for the Chinese market.
We can see from chart, it has broke out of the bearish trend line with a nice descending wedge pattern within.
I am awaiting for it to retrace a little before taking a long position.
MOMO - TECH. PRICE ACTION ANALYSIS - POSS. BUY ZONE IDENTIFIEDSpent some time tonight looking at this one. She looks like a beauty with PLENTY of potential upside, (Should it hold current daily levels around 17.
1) I have marked what i feel are import price levels
2) catching the shift in momentum back upward here can net many potential gains
3) stop loss on this trade is pretty tight, so the risk to reward ratio is heavily on the positive side. (if stop loss is placed correctly)
Good luck and happy trading!
