From a consumer instinct perspective, I still here about couples hooking up for a permanent union through Match.com.
Match has been under pressure since its peak in 2021.
Activist investors have been pushing for changes post-pandemic.
According to Zachs, “On the business front, the firm is currently seeing mixed response from paying Tinder users, but its Hinge app posted 48% annual revenue growth to $134 million in the second quarter.”
The reason is making the cut for my technical Monday Daily, is because
- I still believe that the increasing use of diet drugs will create a new generation of people dating
- Technically, the chart is interesting.
The weekly chart shows a substantial base forming starting at the midpoint of 2023.
Plus, the price has now cleared the 50-week moving average and is consolidating between $34 and $39.
Looking at the Daily chart:
MTCH is in a bullish phase.
MTCH slightly underperforms SPY.
Real Motion is bullish, but the dots have not cleared the Bollinger Band since August.
I would like to see a close above 38.50.
This is a stock that can handle about a $2 risk as it has to follow through almost immediately in the current environment, or a quick exit is appropriate.
Stock Market ETFs Trading Analysis & Summary:
(Pivotal means short-term bullish above that level and bearish below)
S&P 500 (SPY): 572 support 595 resistance-5800 first time!
Russell 2000 (IWM): Range 215-225
Dow (DIA): New all-time highs again
Nasdaq (QQQ): 485 pivotal support 500 resistance
Regional banks (KRE): 58 is the 200-week MA to hold
Semiconductors (SMH): 248 support 265
Transportation (IYT): New 52-week highs-hard to get bearish
Biotechnology (IBB): 142 support zone 146.50 resistance
Retail (XRT): 75 pivotal support 78 resistance-we must see her in the game
iShares High Yield Bond ETF (HYG): Back trading at 79.50-watching this coming week to see if market frothy
Twitter: @marketminute
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not represent the views or opinions of any other person or entity.
