Match breaking out of basing formation into a flag

Long

Match Group, Inc. (NASDAQ:MTCH)

Updated

NASDAQ:MTCH Match Group, Inc.

Also note decreasing volume as the price went down into the flag. Earnings happened nov. 5 so the earnings symbol on the chart is wrong. Ive seen lots of huge call positions being taken that expire in December with strikes up to 150. A breakout of this flag on Monday seems pretty likely

Trade active

Comment:

This flag is still juicy

Comment:

PT is 150

Comment:

I think this might be the week where a decent move to 150-155 happens.

Trade closed manually

Trade active:

I like this gap fill with low volume. Almost always a good area to enter with good RR. Earnings just happened so IV is low making their options a good price. Looking at 170c 3/19 tomorrow.

Comment:

Looks good holding the gap fill and closing positive on a rather rough day in the markets.

Trade closed: stop reached

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