Momo Inc. Stock Forecast
Stronger technical forecast for Momo Inc. stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Momo Inc. stock price fell by -1.14% on the last day (Tuesday, 2nd Jul 2024) from $6.13 to $6.06. During the last trading day the stock fluctuated 1.32% from a day low at $6.05 to a day high of $6.13. The price has risen in 6 of the last 10 days and is up by 2.71% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -421 thousand shares and in total, 695 thousand shares were bought and sold for approximately $4.21 million.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $6.22 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Momo Inc. stock with a 90% probability to be traded between $4.88 and $6.26 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MOMO Signals & Forecast
The Momo Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $6.09. On a fall, the stock will find some support from the long-term average at approximately $5.80. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -2.57%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Monday, June 24, 2024 and based on theory for this formation the price should fall by -20.46% to $4.82 within 24 trading days since signal was issued (Monday, July 29, 2024).
Support, Risk & Stop-loss for Momo Inc. stock
Momo Inc. finds support from accumulated volume at $5.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0800 between high and low, or 1.32%. For the last week, the stock has had daily average volatility of 2.65%.
Our recommended stop-loss: $5.83 (-3.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (MOMO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Momo Inc. to open at $6.08, and during the day (based on 14 day Average True Range), to move between $5.84 and $6.28, which gives a possible trading interval of +/-$0.215 (+/-3.55%) up or down from last closing price. If Momo Inc. takes out the full calculated possible swing range there will be an estimated 7.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.08 (0.33%) than the support at $5.97 (1.49%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Momo Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Momo Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.092 Buy Candidate Upgraded
Predicted Opening Price for Momo Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $6.08 ( 0.330%) | $6.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MOMO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.16 | 1.65% |
| R2 | 6.13 | 1.15% |
| R1 | 6.11 | 0.83% |
| Price | 6.06 | |
| S1 | 6.05 | -0.174% |
| S2 | 6.03 | -0.486% |
| S3 | 6.00 | -0.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.19 | 2.15% |
| R2 | 6.18 | 1.98% |
| R1 | 6.08 | 0.330% |
| Price | 6.06 | |
| S1 | 5.97 | -1.49% |
| S2 | 5.64 | -6.93% |
| S3 | 4.84 | -20.13% |
MOMO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | Apr 30, 2024 | $0.520 | 8.92% |
| 2 | Mar 16, 2023 | Apr 27, 2023 | May 22, 2023 | $0.720 | 8.32% |
| 3 | Mar 30, 2022 | Apr 12, 2022 | Apr 29, 2022 | $0.640 | 12.03% |
| 4 | Mar 26, 2021 | Apr 12, 2021 | Apr 30, 2021 | $0.640 | 4.37% |
| 5 | Mar 19, 2020 | Apr 07, 2020 | Apr 30, 2020 | $0.760 | 3.16% |
FAQ
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