There are signs that NASDAQ:MTCH may be ready to breakout.

MATCH GROUP INC (NASDAQ:MTCH) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NASDAQ:MTCH.

What is the technical picture of NASDAQ:MTCH telling us.

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.

Taking everything into account, MTCH scores 7 out of 10 in our technical rating. Although MTCH is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• MTCH is part of the Interactive Media & Services industry. There are 73 other stocks in this industry. MTCH outperforms 76% 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.
• Looking at the yearly performance, MTCH did better than 71% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
• 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

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple 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. 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 45.08, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade NASDAQ:MTCH?

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Disclaimer

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.