Tue 14'th Aug 2018
Match Group Stock Analysis
Technical stock analysis for Tue 14'th Aug 2018
|Shorts||13.47% ( 2018-07-31 )|
Match Group fell by -3.08% in the last day from $49.99 to $48.45 and has now fallen 3 days in a row. The price has risen in 7 of the last 10 days and is up by 34.14% over the past 2 weeks. Volume has increased in the last day by 2.26 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 5.29 million shares bought and sold for approximately $256.27 million.
Match Group is the upper part of a very wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $50.82 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Match Group with 90% probability to be traded between $35.10 and $50.66 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Match Group holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $45.92 and $40.10. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Friday August 10, 2018, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 69 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $45.60 and $40.35.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Match Group finds support just below today's level at $45.60. If this is broken, then the next support from accumulated volume will be at $40.35 and $38.88.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.80 between high and low, or 5.87%. For the last week, the stock has had a daily average volatility of 7.00%.
Our recommended stoploss: $45.71 (-5.65%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from pivot top found 2 days ago.)
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Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for this stock to perform well in the short-term period.Click for Top 5 Buy Candidates
|MTCH $48.45 $-1.54(-3.08%)|
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