Rookie alert: this is the fist idea I'm confident to publish, be aware of that and please feel free to leave some feedback in the comments, I will be much thankful.
IDEA: long on buy zone after back test confirmation
Rational and some fundamentals:
Match group is a dating products empire. Besides owning Tinder, definitely their most known brand, they also operate under the brand name Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime. They are an innovative company that works almost in a monopoly. The nearest player in the sector is Bumble, that already filled for IPO although date is not announced yet. Some say this is a threat, others say this is good cause it will bring more attention the sector and to Match group. I agree with the second group.
My vision is the market reacted briefly to the earnings release that failed to match (no pun intended) the expectations by -5% and the stock quickly return to the previous uptrend on a fast climb to a new ATH. After some normal profit taking it returned to the up trend creating a decent support.
The quick return to the trend after the earnings release tells me that didn’t shake the investors confidence in the business. The support on trend makes me believe market agrees there is still room to grow.
What are your thoughts on this?
IDEA: long on buy zone after back test confirmation
Rational and some fundamentals:
Match group is a dating products empire. Besides owning Tinder, definitely their most known brand, they also operate under the brand name Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime. They are an innovative company that works almost in a monopoly. The nearest player in the sector is Bumble, that already filled for IPO although date is not announced yet. Some say this is a threat, others say this is good cause it will bring more attention the sector and to Match group. I agree with the second group.
My vision is the market reacted briefly to the earnings release that failed to match (no pun intended) the expectations by -5% and the stock quickly return to the previous uptrend on a fast climb to a new ATH. After some normal profit taking it returned to the up trend creating a decent support.
The quick return to the trend after the earnings release tells me that didn’t shake the investors confidence in the business. The support on trend makes me believe market agrees there is still room to grow.
What are your thoughts on this?