Never fully recovered from the Facebook competition announcement back in early May, which caused a huge selloff. Earnings on 8/7 AMC, might consider covering before then. XLK will continue to consolidate in my opinion. We should have downward market momentum with us in the short run.
TA:
Moving Averages: Rejected by the 50 day moving average continuously since early July. Finally tested and was shot down to fall out of the trendline and dip below the 200 day moving average.
Trendlines: MTCH recently fell out of its wedge looking like it has much more downside after an astronomical climb.
Momentum: Momentum showing that the stock is cooling down with the momentum indicator in a downtrend.
MACD: Daily just signaled bearish again, with the weekly showing what will most likely be continued downward momentum.
Short 50 shares @ 36.00
Targets:
First: 34.60
Second: 31.00 (what I'm really aiming for)
Third: 26.20
Stop 40.00
TA:
Moving Averages: Rejected by the 50 day moving average continuously since early July. Finally tested and was shot down to fall out of the trendline and dip below the 200 day moving average.
Trendlines: MTCH recently fell out of its wedge looking like it has much more downside after an astronomical climb.
Momentum: Momentum showing that the stock is cooling down with the momentum indicator in a downtrend.
MACD: Daily just signaled bearish again, with the weekly showing what will most likely be continued downward momentum.
Short 50 shares @ 36.00
Targets:
First: 34.60
Second: 31.00 (what I'm really aiming for)
Third: 26.20
Stop 40.00
Comment:
Closed 3/4 position, didn't confirm downward movement with 200 ma