December 3 Chart of the Day - Match Group, Inc.
Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews
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According to published reports, Match Group, Inc. (MTCH) is a Dallas based internet and technology company. It owns and operates the largest global portfolio of popular online dating services including Tinder, Match.com, Meetic, OkCupid, Hinge, Plenty of Fish, OurTime, and other dating global brands. The company was owned by IAC until July 2020 when Match Group was spun off as a separate, public company.
With price well off its all time highs (ATH) we'll review this chart from a price action technical analysis perspective.
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Monthly Chart
On the monthly chart we can see that since setting its $182 all time high (ATH) back in 2021 price fell in dramatic fashion melting through many potential support levels all the way back down to under $30.
Since then, price has been trading aimlessly sideways for about the last 18 months.
The bulls have yet to step in with any lasting conviction.
Weekly Chart
On the weekly chart we can see with much more clarity the rapid descent and sideways price action around the proverbial line in sand ~ $30.
Trading around $32.85 earlier today price has been attempting to set a definitive higher low but unsuccessful so far.
Price has been teetering around a multi year support level seemingly with a potential decision to make. Could this be level that price turns back to the upside or will it continue falling?
Has Match price met its match?
Only time will tell for sure what price will do next...
We've layered in additional support/resistance and trend to help identify potential price levels of interest and/or future price targets.
Armed with precision oriented charts like these both traders and investors can formulate their respective plans.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones,
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
