Ladies and gents. This little stock taps into raw human impulses and turn them into gold 0.30% . Talk about alchemy. Move over George Soros...
I made the image a bit bigger but there is a channel top at around $21.80.
I see this stock going up. I put a few scenarios with the red arrows but as usual, the market will do what it will do... red arrows or not. The key...
+ High vol. breakout last week
+ followed by multiple days of narrow range, sideway, movement, with contracting volume
+ support from 5ema
+ trend intensity turned bullish since last week
- earnings is 3 weeks away; possible that prices will remain range bound w/ fake break-outs, leading up to the earnings release
: Target is a bit aggressive depending if you want...
Before earnings are announced today Match.com price is in a rising channel. Now, it is having some difficulty staying above the resistance set when the stock started trading at 16.15. Regardless of earnings I am bullish unless price breaks down through rising channel with heavy volume. However, RSI divergence is pointing to a possible down turn in the near future.
