MOMO On Symmetrical Triangle Breakout Watch!
Hello everyone. Today we have a Textbook Symmetrical Triangle on MOMO. And when I say textbook I mean, to the tee, check it out.
stockcharts.com...school/doku.php?id=chart_s...
If this pattern holds true here then I would expect to see a run up to $59. Knowing MOMO this will happen quickly, historically when it gets movin, it moves quick! I assume it would be pretty safe to buy in here with a stop loss at or below the 50 day MA (blue line on the chart) or the lower trendline around $44. What are your thoughts? If you have any input feel free to comment and as always, make sure to like if you want to see more!
stockcharts.com...school/doku.php?id=chart_s...
If this pattern holds true here then I would expect to see a run up to $59. Knowing MOMO this will happen quickly, historically when it gets movin, it moves quick! I assume it would be pretty safe to buy in here with a stop loss at or below the 50 day MA (blue line on the chart) or the lower trendline around $44. What are your thoughts? If you have any input feel free to comment and as always, make sure to like if you want to see more!
Comment:
I had a tight stop on this one today and got stopped out. I'll be back in if I see a break above the trendline @ $46
Comment:
WOAH! I hope everyone had tight stops. Once support slipped through this morning it fell off fast.