#Premarket Up-Channel Test on #Earnings

When we had previously tracked $MOMO, price had broken its down-channel open on a bullish break after acquiring "Chinese Tinder". Full extension price targets were provided (link to related idea below).

Resurfacing on premarket earnings, the chart has since established an up-channel option, respecting each price extension on its way up.

Technicals:
1. Trading at 36.16 in premarket, up 6.54%
2. Price came off from its diagonal resistance and re-tested the 50 MA, and is currently sitting at its second price extension per below link
3. MACD has pinched and is turned up
4. Levels of resistance to watch: 38.75-39.10 range, which coincides to the final price extension currently presented

Fundamentals:
Earnings Call: https://finance.yahoo.com/news/momo-inc-sponsored-adr-class-110000976.html?.tsrc=rss

Commentaire:

For the complete technical analysis on this swing trading set-up, click here: compoundtrading.com/...g-periodical-contact