1. Price has entered the 2015 level
2. RSI Flattening out
3. MACD is crossing below -0 (personally i think is unreliable)
4. Volume is above average from Sep 2020
5. KDJ is at bottom
6. Financial Reports are positive net income with attractive PE
7. Market comparison with Tinder is just a huge discount,
8. although it is a Chinese company which has political...
I picked the timeframe of the superior uptrend and downtrend of Momo and draw the same sideways formation before the big jump 2015-16.
And what a surprise, there are similarities about the price action.
1. IPO prices sinks
2. Rises back
…and so on
Momo is a free social search and instant messaging mobile app for Millions of Chinese people. The app allows users...
This has been in crazy consildation. Could be bearish however it’s holding at usual support. Usually the more times you test support the easier chance of it breaking however the RSI is so oversold here I don’t think we could be dropping yet could be wrong of course. If we can get a bounce and maintain here this could be decent swing trade at least to 15.30
The price does not seem to have much force, it has not been able to overcome the resistance of 15 dollars.
It seems to me that it is an AB = CD bullish pattern, waiting for it to fall to $ 13.80 and then go long.
The Momo chart is a complete puzzle of patterns, which magically appear when using the zig zag indicator in daily candle.
It reached what appears to be a bottom between yesterday and today, I am almost sure that it is the point C of a bearish harmonic pattern, so it would follow a bullish wave towards D.
What do you think is the most "natural" pattern for Momo...
After testing the bottom of range and holding, I expect Momo to test top of range next. This is my trading plan, and how I see the chart playing out. Just one man's opinion. I am not a financial advisor, and this is not financial advice.
MOM broke out from an inverse head and shoulders pattern a while back. MOM reached targets and then pulled back forming an ABC corrective pattern in the process.
Possible stop under C.
MOMO has struggled with the rest of the market, but has not lost too much ground in the last wek or so.
Level A is placed at the bottom of the impulse wave, or leg up. The top...
MOMO has good past growth in sales and eps. can it recover from the regulations fears sells of and continue its growth path? chinese social media apps, and only has price/sales of 1.30 ish, when sectors has comps at way higher in the 30-40 plus price to sales. Dating and social media in china, worth a look. Im a fan, I like the stonk :D
In the last 6 - 7 years the $16 handle represented significance in both supply and demand.
Inverse head and shoulders patterns are common major bottoms. The neckline represents historical supply where price has difficulty getting above, because buyers aren't yet motivated enough to hold through those price levels. A catalyst is needed. An example of one that...
