Match Group, Inc. provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.
NASDAQ:MTCH weekly broke out of a bullish pennant and then gave a small inside bar . If it breaks above the high of last week's bar, it should have smooth sailing to new all time highs.
Notice the MACD confirmation as well.
MATCH GROUP has performed really good this year
We started this year with a strong bounce of the 1.618 fib level. 130 zone became our support.
When we crossed the 2.618 fib it looked exhausted when we peaked at 160 it retested previous highs which were below this level. Still there were enough buyers to bounce of this level pretty easily around when...
$MTCH is in a new channel between $48 and $60\
Powerful moving stock with alot of growth potential, one of the highest returning stocks the last 2 years, averaging 100% growth per year
MACD is beginning to Cross from a relatively low position with RSI in its mid range.
A similar setup was before the spike of $38 to $50 and then its range in the $50s
Short...
NASDAQ:MTCH is looking to break out higher. Over 50% short interest so this one can skyrocket higher. We want to see some volume kick in during the breakout.
Match group MTCH slowstoch is oversold and yesterday the stock formed a pin bar .
Slowstochastic is below 20 so oversold: pin bar could be a good signal for reversing the trend.
Stock strenght is above 85!
Watch the stock and lets see on lower timeframes if there is a entry signal (for example at 4h TF).
Disclaimer:
This is just my tought: don't invest based on this idea.
