INVESTORPLACE – Jan 10 – Momo has morphed over the last couple years into a legitimate and much more diverse entertainment platform. Wall Street doesn't appear impressed or is at the very least, incredibly skeptical. Momo stock has gotten hammered in the aftermath of its last two earnings reports despite producing massive growth numbers and easily topping forecasts. It has been all downhill for Momo stock on the price chart lately despite a 12-month gain in shares of nearly 30%. Looking at the Momo stock chart, a weekly bearish flag is developing. It's the type of pattern worthy of striking technical fear into bulls and instilling confidence into bears. But if we can put on our contrarian headgear, it's typically when conditions look their worst – and I believe MOMO qualifies in this context, that the end is actually near in a good sort of way for bulls.
by Chris Tyler
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Summarized by the Courtland Brooks team