Tuesday, 10 December 2013

FB, NFLX, TWTR - momo stocks in demand

Whilst the main market saw minor chop across the day, the real action was in the momo stocks. All the usual suspects saw very significant gains of 2-5%, and look set for general upside into early 2014. With the momo stocks catching a firm bid, its bodes well for the main market.

FB, daily

NFLX, daily

TWTR, daily


Most notable of all the momo stocks...the TWTR, which put in the first daily close in the $50s. Just ten trading days ago, TWTR had lost the $40 psy level, and looked set for the low 30s. What a turnaround!

Similarly, FB which had broken the H/S neck line recently...is continuing to recover, and has put in a key daily close above the 50 day MA in the $50s. Now..the talk is about 'when will FB hit the $60s?'

Overall, all the momo stocks look set for further gains into year end. Certainly, the current trend is strongly bullish.

*my main market outlook is for sp'1830/50 zone by year end, which if correct, should indeed mean the momo stocks are at least somewhat higher than current levels.