MOMO trade ideas
MOMO Gains Traction BEFORE EarningsFundamental:
I studied the company and I like the its past history and it meets my fundamental parameters. Past history does not guarantee future results.
It is a Chinese-based company.
Technical:
The volume clearly shows big players entering the stock of this company. Its time to surf the wave up!
The price chart consolidated sideways with volume divergence.
Targets:
The targets on the chart are merely "areas of reflection" where I will PAUSE and re-consider the company going forward.
Overall Plan:
Hold for 3 months to 52 weeks
MOMOI used this trade idea yesterday. You can see it in my russian version tradingview. Stock showed great sales growth over 500% in forth qoter. New historical high + resent IPO. Interesting thing that trade volume in earning realise day was over 70% from shares float. Strong signal to buy. And as wee can see it worked well
MOMO - Moving average powered Short set up from $16.87 to $13.63
MOMO rolling over very nicely with very good divergence moneyflow. Its very volatile & seems to have the power of moving average behind it. Looking a very good short setup
Trade Criteria
Entry Target Criteria- Break of $16.87
Exit Target Criteria- $13.63 or lower
Stop Loss Criteria- $18.37
Option: $17.50 Apr puts @ $2.6
You can check detailed analysis on MOMO in the trading room/ Executive summary link here-
www.youtube.com
Time Span- 7:45"
Trade Status: Pending
Potential Short MOMO if reach $19, wait for PA for confirmationMissed a great chance to long MOMO after completion of ABCD.
If longed, that has been 130% gain... so many "what if" haha.
OK. the stock price seems to be in range since IPO. good to short at $19 (if it reaches and form the bearish butterfly). or Maybe it rally all the way up to $22.60 to form a bearish Crab instead. critical to analyze price action at $19 area.