This is the Chinese Tinder -> Used by billions of sexually deprived Chinese. Long term hold
Big head & shoulders in the making. Let's the break down.
After recent breakout, momentum in NASDAQ:MOMO may acellerate in November, with potential top being formed into earnings later this month.
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 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.
target 36-37
added a few calls after gap fill down day trade
MOMO Long Details are on the chart. I will update this one as well. Good trading to all! Waz-
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...
MOMO buy buy at 24 - 26 goal 1: 30 goal 2: 36 goal 3: 40
I love the gap down here. If it opens below the entry take the trade and place the stop at 35.. if it opens above take it after the break to the 100ma