Today we are watching…
1. Momo Adr (#momo-adr)
Chinese Gaming company, Momo, is ready to post its earnings today and analysts are cautiously optimistic about its chances of beating estimates. A number of innovative products, such as its pengiun gift card, and expansion into karaoke and short videos are likely to drive a strong performance for this quarter. Moreover, its improved interactive tools and the acquisition of Tantan are forecast to impact positively on the company’s margins and user growth rates this year. Keep an eye on this one!
2. Bitcoin (#btcusd)
Bitcoin recorded another sizable surge over the weekend as crypto bulls stampeded back into their favourite digital assets. The surge was the result of a technical breakout through what is known as an ascending triangle formation, characterised by a flat top and series of higher lows that show building bullish momentum towards a breakout. BTC/USD spiked roughly 10% to reach a new high just below the $9,000 mark. Analysts are forecasting more gains for Bitcoin as it moves towards the $10,000 level, but also growing cautious about the possibility of a sizable correction.
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