MOMO trade ideas
MOMO, bounce or resume uptrend?The upsloping red median line held price. Price also bumped above the downsloping red median line, suggesting further upside. There may be a re-test of the area where the second red arrow is. Where the down and up sloping lines intersect. I am still just watching for now.
momo, where is the bottom?lower highs and lower lows = downtrend right now. When I see a change in behavior, I will consider going long again. The downward sloping pitchfork shows the probable path of price. Specifically , the lower down sloping blue line, AKA the lower median line parallel where I have the big red arrows, is my price target for now. If price closes above the down sloping red median line or center line, I may change my view.
Call debit spread in MOMOChinese ADR's have all been curiously strong lately, so I am adding some bullish delta on a pullback. Not sure if Sept/Oct will be as bearish as normal, but I doubt it since it seems they have all been shaken out(sellers) I have watched the Simpler Options guys trade this and now also a rec. from Navallier. I see some support levels that may line up with the 200 moving average and will hope for a bounce. Premium selling has been miserable and with implied volatility rank at 13% I decided to buy the 35 strike and sell the 40 out until January expiry for 1.71 debit because I usually need a lot of time to be right. This is in a reg-T account so I am putting on risk with the hopes of making profit. Will sell it for 2.50 ideally but will settle for less within the first 10 days or if my assumption should change.
Swing trade on MOMOPopular stock. It should continue its uptrend. I have already entered this stock.
MOMO potential swing trade?This one is pretty easily illustrated. It either breaks out and I will buy the retest and we continue to climb higher or it drops back to support where I will buy the bounce. Easy cheesy lemon squeezy. Gotta be PAYtient with this one.
MOMO Cup Based FormationMOMO is forming a not so perfect cup based formation, however, this explosive player can still bring in some gains. Tight trailing stop loss.
Entry: 44.16
SL: 43.49
PT: 46.37
MOMO
MOMO Long Through Consolidation of ChartPer the text box on the chart, we have explained why this company is completely bullish on a fundamental basis. MOMO is a free cash flow machine gaining growth in an industry with very few players. Their revenue growth seems like they're truly expanding as opposed to fluffing up the financial statements through different accounting methods. One thing that is always a good thing to keep in mind is the currency exchange, since MOMO is based in China. This can have an affect, of course, but we don't see the damage too rough since the USD has faded a bit. We expect it to go up, but we think the yuan will as well (attributed to Chinese expansion through Russian trade and the Silk Road). All in all we are definitely bullish and are looking to accumulate a stake soon.
Note: Waiting after earnings to make sure this is not a fluke to hold bigger stake.
Alden Investment publications are only meant for viewing pleasure and not to be taken in as financial advice or anything related to such.
MOMO reverse head and shoulders patternLook for MOMO to start trending up on this reverse head and shoulders pattern.
MOMO Potential Cypher (bullish upto 43.6, then pull back to 40sNASDAQ:MOMO MOMO forming potential cyper patter. If price reaches the 43.6 value by July 21st. It might putll back to 40s
MOMO- Raise from Support LinesThe stock moved off the mentioned support lines, watch for further gains...
MOMO- Accumulation- BUYMOMO, this Chinese internet stock is holding above support line. I would use close $36 as stop. Target $42, $46
Notice the institutional accumulation started beginning March 2017
MOMO reversal after earningsMomo, reversed after earnings 40 is an important area to hold as support.
