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Match Group Inc. (NASDAQ:MTCH) — the owner of dating app services Tinder, Hinge, and OkCupid — has just seen its stock make a significant technical move.
Chart created using Benzinga Pro
The stock has completed a Golden Cross, a bullish indicator that occurs when a short-term moving average crosses above a long-term moving average. This could be a promising signal for investors, especially considering the strong bullish momentum the stock has been experiencing.
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The Golden Cross typically signifies a shift from a bearish to a bullish trend, suggesting that Match’s stock might be gearing up for a positive run. Currently, the stock is trading at $37.31, which is above its five, 20 and 50-day exponential moving averages (EMAs). This positioning indicates that Match stock is experiencing strong buying pressure, adding further weight to the bullish case.
Chart created using Benzinga Pro
Several other technical indicators are aligning with this bullish sentiment:
Chart created using Benzinga Pro
With the Golden Cross and other bullish technical indicators, Match Group’s stock seems to be sending strong bullish signals. However, investors should keep an eye on potential overbought conditions approaching as suggested by the RSI and Bollinger Bands.
For now, though, the charts seem to be saying: swipe right!
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Image: Solen Feyissa from Pixabay
Posted In: MTCH