Chinese retailer JD had two 5-day pocket pivots as well as a 50-day undercut & rally. Clusters of 5-day pocket pivots are a sign of strength. Earnings and sales remain robust, group rank 7.
Mobile-based social networking platform MOMO looks due for another pocket pivot should it play catch up with the rest of the Chinese names that have already began to correct for their corrections such as BZUN and JD. You could buy it here using the 20-dema as a selling guide. Earnings and sales are soaring, institutional sponsorship has increased over the last 7 quarters.
Weight management company WTW had a voodoo pullback to its 10-week moving average. Volume has dried up over the past 4 trading days. Earnings have shot higher and sales are accelerating.
We own a position in MOMO and WTW.
Pocket Pivot Review - JD, MOMO, WTW 9-12-17
|Published:||12 Sep 2017 21:33 ET|
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