MOMO trade ideas
Latest Wave RetracedThe trend now is downward and the latest wave down has just been corrected by Fibonacci rules. o the trend may continue its way.
Long MOMO0.382 retracement from the previous trend. I'm going to go on a limb and guess we are forming a cup-n-handle pattern (also notice Ichimoku support) and will either break or park at $40 before next ER.
Window to be ClosedIndcators are turning down and MOMO had opened with a gap up on March 7th. This window will be closed now.
MOMO is oversold and should go higher as market recoversMorgan Stanley came forward with a $51 PT while other companies also have a positive outlook on the future prospects of MOMO. With the acquisition of Tantan and a low P/E, Mr. Market will eventually realize MOMO is an undervalued asset. If the market shows signs of reduced volatility in April, this should break the wall around $40-41 and test ATH levels.
Long MOMO for long term gainsNice breakout of the 38 dollar range. Not much resistance till $45. With the acquisition of Tantan, ER should beat and we should trade much higher in a few months. Fundamentals are just too strong on this one. Stock is quite undervalued.
MOMO is making a reversalPotential Reversal in MOMO. .
+ EMA20 Crossed Above EMA50
+ Price stay above EMA20, RMA50 and EMA200
+ Price broke Downtrend Line and making Higher High
+ Price making Lower Low and tested Uptrend Line several times.
+ Nice Volume
+ Break Upper Bollinger Band
+ Strong +ve Force Index.
Expect to pull back a little to test EMA20 and make another Higher Low before continue to move uptrend to First Target of $39.
Next Target is to close the GAP down at $41
and Complete Rounding Bottom pattern at $46.
Conservative Trader : Put in watch-list. Partial Entry after pullback and new Higher Low form at around EMA20.
Aggressive Trader : Long with stop loss at previous Higher Low.
MOMO Running AwayMomo is a slightly undervalued Chinese company with strong growth prospects. See chart for technical notes on breakout and continuation momentum.
MOMO is backMOMO has finally broke out of the downtrend and is moving along an uptrend trajectory bouncing back above 50 Fib.
MOMO correction for better or worseSome thoughts on MOMO, being looking it for a while - seem like crazy ride, but I entered long now.
Safe and Happy trading everyone !
earnings day trade for MOMOIf it gaps up and clears my entry line it's a close your eyes and buy the open. If it gaps below by entry line then let it run and pull back then get in short. I can see people locking in gains if it runs early. It needs to gap and clear my entry lines both up and down.
MOMO Door number 1, 2 or 3? MOMO broke above the trend line. If it stays above the 38.2 Fib at USD 31.39 level this could be the long awaited reversal, but the MA's are not lined up yet. It's also likely that the price will fall through the new found support and keep going lower, or even fall back below the trend line, which is the least likely case.
Stochastic divergence at the breakout point of a falling wedgeThis is a textbook divergence. Earnings are scheduled for 11/28 so we want to be out of the trade by then.
Buy: 29.05
Target: 30.31 - 32.29 (4.34% - 11.15%)
Stop: 28.30
MOMO - Earnings PlayWatch for the stock to rise up until earnings on 11/14. If it can't break 29.40 resistance by 11/13 look to short into earnings.
MOMO uptrend continuationMOMO has strong fundamentals and has been uptrending. After the failed breakout it returned to the trend line. Therefore it is good point to buy now.
long MOMOat 32.60 starter position with a wide stop looking to build some gains to play it more aggressivelysome point later
