Long Position on MOMO @ $36.00 on 12/16/2019 (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 "flag" and higher share prices expected for this stock. Note that the formation is supported by the stock's 50-day moving average. Higher share prices are expected for this stock.

52-weeks Trading Range: $22.85 to $41.50

Entry Point: $36.00

Stop Loss: $34.20

Target Price: $39.60

Updates

1/8/2020 3:00:48 PM

MOMO closed at $36.57

Position closed on 1/8/2020 at price of $36.57 with a 1.58% gain in 23 days.

Back to Portfolio