MTCH is currently consolidating in a symmetrical triangle. Since symmetrical triangles are continuation patterns, we will likely see price break to the upside next week. However, be ready to play both sides of the breakout. MTCH currently has super high levels of short interest with 49% of float being shares shorted. If we break up, we can see a short squeeze to $64 in the next week or two.
Order cancelled
Pattern breakdown and violated. Let's see how the market recovers next week if it does.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.