MOMO On Symmetrical Triangle Breakout Watch!
Hello everyone. Today we have a Textbook Symmetrical Triangle on MOMO. And when I say textbook I mean, to the tee, check it out.
stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:symmetrical_triangle_continuation
If this pattern holds true here then I would expect to see a run up to $59. Knowing MOMO this will happen quickly, historically when it gets movin, it moves quick! I assume it would be pretty safe to buy in here with a stop loss at or below the 50 day MA (blue line on the chart) or the lower trendline around $44. What are your thoughts? If you have any input feel free to comment and as always, make sure to like if you want to see more!
stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:symmetrical_triangle_continuation
If this pattern holds true here then I would expect to see a run up to $59. Knowing MOMO this will happen quickly, historically when it gets movin, it moves quick! I assume it would be pretty safe to buy in here with a stop loss at or below the 50 day MA (blue line on the chart) or the lower trendline around $44. What are your thoughts? If you have any input feel free to comment and as always, make sure to like if you want to see more!
Note
I had a tight stop on this one today and got stopped out. I'll be back in if I see a break above the trendline @ $46Note
WOAH! I hope everyone had tight stops. Once support slipped through this morning it fell off fast.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.