Interesting Technical Analysis finding for MATCH GROUP INC (NASDAQ:MTCH)

Our stock screener has detected a potential breakout setup on MATCH GROUP INC (NASDAQ:MTCH). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NASDAQ:MTCH.

Zooming in on the technicals.

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

We assign a technical rating of 7 out of 10 to MTCH. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, MTCH is only an average performer.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• MTCH is part of the Interactive Media & Services industry. There are 73 other stocks in this industry. MTCH outperforms 79% of them.
• In the last month MTCH has a been trading in the 42.59 - 49.24 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• When comparing the performance of all stocks over the past year, MTCH turns out to be only a medium performer in the overall market: it outperformed 69% of all stocks.
• MTCH is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MTCH is lagging the market slightly.

For an up to date full technical analysis you can check the technical report of MTCH

How does the Setup look for NASDAQ:MTCH

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NASDAQ:MTCH is 9:

MTCH has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 46.67. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 44.56, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NASDAQ:MTCH

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.