Long Position on MOMO @ $24.30 on 10/20/2016 (Momentum)

Momo Inc. (MOMO) operates as a mobile-based social networking platform in the People’s Republic of China.

The company’s platform includes its Momo mobile application and various related features, functionalities, tools, and services that are provided to users, customers, and platform partners.

Its Momo mobile application enables users to establish and expand their social relationships based on locations and interests. The Momo mobile application, which is available on android, iPhone operating system (iOS) and Windows platforms, enables users to establish social relationships based on locations and interests. Momo offers a personal way for users to discover people nearby, and the Company facilitates the connecting, communicating, interacting, and content sharing with others.

The company also offers games, which are designed with various themes, cultural characteristics, and features to appeal to various segments of the game player community; paid emoticons and mobile marketing services; and live music and entertainment broadcasting services.

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock. The firm reports its earnings on November 8th.

52-weeks Trading Range: $6.72 - $26.65

Entry Point: $24.30

Stop Loss: $23.00

Target Price: $26.80 

Updates

10/25/2016 10:18:10 AM

MOMO closed at $26.88

Position closed on 10/25/2016 at price of $26.88 with a 10.62% gain in 5 days.

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