Technical Monday: Time to Strike a Match?

October 14, 2024

Mish's Daily

By Mish Schneider


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

  1. I still believe that the increasing use of diet drugs will create a new generation of people dating
  2. 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.

 

Educational purposes only, not official trading advice.

For more detailed trading information about our blended models, tools, and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.
-


Traders World Fintech Awards
-

-----Get your copy of
Plant Your Money Tree: A Guide to Growing Your Wealth

Grow Your Wealth Today and Plant Your Money Tree!

"I grew my money tree and so can you!"- Mish Schneider 

-
Mish in the Media-Want to see more? All clips here

Schwab Network Mish and Nicole discuss the consumer and precious metals as key. 10-14-24

Fox Business Charles Payne The Consumer Fights Back Risks in the Market 10-11-24

CNBC Dubai Mish discusses China and the recent stimulus 10-10-24

Business First AM The Vanity Trade brings us back to dating 10-11-24

Dave Keller Market Misbehavior They discuss her Economic Modern Family and which areas she's most focused on for Q4, the Trifecta of silver, the US Dollar, and sugar and more 10-10-24

Business First AM Why Mish is watching Chewy.com 10-07-24

Podcast with Geoff Identifying Reliable Bases with Big Potential 10-08-24

Phoenix TV China What Do China Investors Want to know? 10-07-24

Phoenix TV China Will the China Rally Continue? Mish covers the recent run and what to expect next 10-07-24

Business First AM Mish covers the consumer and what’s on sale right now. 10-04-24

 

Coming Up:

October 14, 21, 28 Podcast with Geoff Bysshe

October 16 Real Vision

October 18 Maggie Lake

October 24 Live Coaching

October 29-November 4 Vacation

December 5-7, 2024 Money Show Master Class

Weekly: Business First AM, stockpick.app

 

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 215-225

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 iBoxx Hi Yd Cor Bond ETF (HYG) Back trading at 79.50-watching this coming week to see if market frothy

Improve Your Returns With 'Mish's Daily'

Michele 'Mish' Schneider

Every day you'll be prepared to trade with:

  • Unique insight into the health and future trends in markets
  • Key trading levels for major ETFs
  • The 'Modern Family' advantage
  • Actionable trading ideas in stocks and ETFs across all asset classes
Subscribe Now!