ABC Bullish, possible stop below 12.93.
Targets calculated using the AB leg and fib levels. In this pattern C must be below A. If C is very close to A, it would be a double bottom, and if C goes below A by a significant amount, you are possibly looking at different harmonic pattern,
C is support, and as long as C holds, it can be a good stop, If it does not hold, well you do not lose much as a rule because your stop is close by. C is at 12.96 and A is 11.88, so they are very close together at this point.
There is a 3 outside up bullish candle pattern at the last low valley. This pattern starts with a red candle, then a green candle that opens lower than the red candle's close, but closes above it. The last candle closes higher. In this pattern, the 2nd candle engulfs the 2st candle. This pattern shows bullish sentiment at this level as the bulls were at a disadvantage with a lower open, yet were able to fight back and close higher.
Today, price has broken a support level provided by the top of a prior gap down. The bottom of this gap held so far today.
No recommendation
Momo, Inc. operates as a mobile-based social networking platform. The platform includes Momo mobile application and related features, functionalities, tools and services that are provided to users, customers and platform partners. It offerings includes live video, value added and mobile game services. The company was founded by Yan Tang, Yong Li, Xiao Liang Lei and Zhiwei Li in July 2011 and is headquartered in Beijing, China.
Targets calculated using the AB leg and fib levels. In this pattern C must be below A. If C is very close to A, it would be a double bottom, and if C goes below A by a significant amount, you are possibly looking at different harmonic pattern,
C is support, and as long as C holds, it can be a good stop, If it does not hold, well you do not lose much as a rule because your stop is close by. C is at 12.96 and A is 11.88, so they are very close together at this point.
There is a 3 outside up bullish candle pattern at the last low valley. This pattern starts with a red candle, then a green candle that opens lower than the red candle's close, but closes above it. The last candle closes higher. In this pattern, the 2nd candle engulfs the 2st candle. This pattern shows bullish sentiment at this level as the bulls were at a disadvantage with a lower open, yet were able to fight back and close higher.
Today, price has broken a support level provided by the top of a prior gap down. The bottom of this gap held so far today.
No recommendation
Momo, Inc. operates as a mobile-based social networking platform. The platform includes Momo mobile application and related features, functionalities, tools and services that are provided to users, customers and platform partners. It offerings includes live video, value added and mobile game services. The company was founded by Yan Tang, Yong Li, Xiao Liang Lei and Zhiwei Li in July 2011 and is headquartered in Beijing, China.