From a consumer instinct perspective, I still hear 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 Zacks,
“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
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.
ETF 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 215-225Dow (DIA) New all-time highs againNasdaq (QQQ) 485 pivotal support 500 resistanceRegional banks (KRE) 58 is the 200-week MA to holdSemiconductors (SMH) 248 support 265Transportation (IYT) New 52-week highs-hard to get bearishBiotechnology (IBB) 142 support zone 146.50 resistanceRetail (XRT) 75 pivotal support 78 resistance-we must see her in the gameiShares iBoxx Hi Yd Cor Bond ETF (HYG) Back trading at 79.50-watching this coming week to see if market frothyMore By This Author:Is Investing In China Like Investing In The U.S. Circa 1950s?
Key Charts And Insights For Q4
Key Index And Sectors Are Inside Last Week’s Range
