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Bullish option flow was detected in MTCH stock on March 16, 2022.
MTCH Stock Bullish Option Flow
Make sure to review this lesson on option flow so that you understand the image above.
Match Group initiated with a Buy at Deutsche Bank
On March 10, 2022, Deutsche Bank analyst Benjamin Black initiated coverage of Match Group with a Buy rating and $135 price target. The analyst has a positive outlook on the online dating industry, which is benefiting from secular growth driven by supportive demographic tailwinds, technological advances, and fading stigma.
Match Group upgraded to Outperform from Market Perform at BMO Capital
On March 9, 2022, BMO Capital analyst Daniel Salmon upgraded Match Group to Outperform from Market Perform with an unchanged price target of $130. The analyst says online dating is “poised to outperform” the internet sector. For Match, catalysts should include international expansion milestones for Hinge and new product innovation, Salmon tells investors in a research note. While the Tinder story is a more “complex/dynamic one” than before, it is also de-risked and remains the “undisputed category leader,” adds the analyst. Salmon also thinks the value proposition of Match’s innovations like TinderCoin will become clearer and support a multiple re-expansion.
MTCH Stock Technical Analysis
Both the long and short-term trends are negative. It is usually better to avoid buying stocks with negative trends. MTCH is currently trading near the lower end of its 52-week range, which is not a good sign. MTCH is lagging the S&P500 Index which is trading in the middle of its 52-week range.
There is support at 88.45 from a horizontal line in the weekly time frame.
There is a resistance zone ranging from 92.37 to 92.37. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. There is another resistance level at 104.17 from a trend line in the daily time frame. There is also resistance at 107.91 from a trend line in the daily time frame. Finally, there is resistance at 169.53 from a horizontal line in the weekly time frame.
The technical rating of MTCH is bad and it also does not present a quality setup at the moment. MTCH stock has a Setup Rating of 3 out of 10. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when MTCH stock consolidates and has a Setup Rating of 8 or higher.
