Long Position on MTCH @ $71.50 on 6/25/2019 (Momentum)

Match Group, Inc. (MTCH) provides dating products worldwide.

It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as other brands.

Match Group, Inc. offers its dating products through its applications and Websites in approximately 40 languages.

Match Group, Inc. is a subsidiary of IAC/InterActiveCorp.

On May 7th, the company reported 1st Quarter March 2019 earnings of $0.49 per share on revenue of $464.6 million. The consensus earnings estimate was $0.33 per share on revenue of $464.0 million. 

The company said in its earnings presentation it expects second quarter revenue of $480.0 million to $490.0 million. The current consensus revenue estimate is $484.2 million for the quarter ending June 30, 2019.

Shares have formed a bullish "double bottom" and are expected to move higher. The 50-day moving average (shown in brown) supports the formation. 

Entry Point: $71.50

Stop Loss: $67.50

Trading Range: $33.30 - $75.28

Target Price: $78.60

Updates

8/7/2019 9:38:14 AM

MTCH closed at $83.10

Position closed on 8/7/2019 at price of $83.10 with a 16.22% gain in 43 days.

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