MOMO has both volatility and volume to make a decent move tomorrow and maybe the remainder of the week with next level of strong resistance at the 38.50 level. Nov. 15 calls with 38.50 strikes are trading at 700-1500% normal levels and the premiums are still relatively cheap. This makes for a decent day or swing trade as long as the China & US deal continues on...
MOMO have a lot of cash and make money very well and fast, so i expect rise of this stocks to high level and make 56% for 4 month. I know about China risk, we pay for cash and now momo cash cost so low.
$MOMO has recently broken out from its downtrend line and now consolidating above it. Volatility is low and having squeeze on its price action. My bias is long and buying on breakout.
Background
MOMO is a mobile based social networking platform that has able to grow its user base by its platform by providing an alternative location based socializing application that allow people who are near each other to establish social relationships. Over the past few years, it has been able to catch the live broadcasting and video streaming mega trend in...
