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Pocket Pivot Review - MOMO Update 8-18-16

MOMO gapped higher then closed roughly midbar on 8-16, the day it reported earnings, much as TWLO did on 8-9-16 when TWLO gapped higher on a strong earnings report, only to close the gap and finish midbar. 

If you were using the 6/20 moving average lines, or buying only after TWLO found an intraday floor, TWLO would not have been bought at the open. The same goes for MOMO on 8-16. Its 6/20 moving averages then crossed back up later in the day, making it buyable.

MOMO was not mentioned as a buyable gap up but rather as a pocket pivot on 8-15 before earnings. That said, MOMO could have qualified as a buyable gap up, all things considered.

Since it closed its gap, its buyable gap up is nullified but it still should be monitored if you're looking to enter a position. Indeed, it pulled back today and yesterday. Today's move lower was due to the cancelled buyout offer. Nevertheless, the stock is showing signs of strength on huge volume. Keep in mind this is a volatile stock. 

MOMO fundamentals are strong with 69.8 mil monthly active users on its social-networking mobile platform. Pretax margin 23%, earnings and sales are soaring, group rank 10. 

We discussed TWLO here:

https://www.virtueofselfishinvesting.com/reports/view/buyable-gap-up-twlo-update-using-620-lines

https://www.virtueofselfishinvesting.com/reports/view/buyable-gap-up-twlo-update-2

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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