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Two Stocks Breaking Out: Momo Inc & Huya Inc

Momo Inc (MOMO) and Huya Inc (HUYA) are two Chinese companies breaking out of a steep downtrend. MOMO just burst through a down-sloping trend line that goes back to its recent highs over $20.00 and HUYA just broke above its daily 20 moving average. Both stocks are profitable. HUYA has a forward P/E of 16 while MOMO has a forward P/E of 7. Both will benefit from US monetary policy tightening, pushing money into foreign growth markets like China. Both charts have significant upside potential, considering they are trading near or at 52 week lows. Based on technical analysis that suggests a major Shanghai Composite breakout over the next 6 months, Chinese stocks are the place to slowly rotate, away from US equities.

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