Are you a technical investor? If so, it may be time to consider Momo Inc MOMO for your portfolio. The company just saw its 50 Day Moving Average breakout above its 200 Day Simple moving average, a trend that could indicate some bullishness in the future for MOMO.
This trend may have already begun, as shares of MOMO have moved by higher by 19.5% in just the past month. Plus, MOMO has earned itself a Zacks Rank #2 (Buy), so there is plenty of reason to believe that the run for Momo has plenty of life left.
More bullishness may especially be the case when investors consider what has been happening for MOMO on the earnings estimate revision front lately. None estimate has gone lower in the past two months, compared to 1 higher, while the consensus estimate has also moved higher too.
So given this move in estimates, and the positive technical factors, investors may want to watch this breakout candidate closely for more gains in the near future.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment