Do you remember how you met your partner?
How did you ask him/her out?
I met my wife in school and I’d mustered the courage to ask her out one day.
These days, our circle of friends is larger, thanks to technology.
And this week’s swing trading opportunity has been benefitting from the rise in technology and connectivity.
But before we analyze this stock together, I’d like you to have a look at last week’s swing trading opportunity: Moody’s.
This stock is beginning to pullback, and an entry based on The Art of Explosive Profits could emerge.
There’s something else that you need to consider because Moody’s will be announcing its earnings results on 25 July 2023.
Shall we now turn our attention back to this week’s swing trading opportunity: Match (MTCH)?
Performance Of US Stock Market vs Match (MTCH)
In this part of your analysis, you’ll want your swing trading candidate to be strong than the overall US stock market.
This is because you’ll be better off buying the S&P 500 if the stock you’re looking at is underperforming.
From the comparison chart above, you can tell that Match’s shares had underperformed the S&P 500. However, the bulls returned in Apr 2023 and the share price of its shares begun beating the S&P 500.
And its shares are on an uptrend!
These are encouraging signs, therefore a deeper look into the shares of Match is warranted.
How Explosive Is Match (MTCH)?
At this stage, you’re looking out for the price explosiveness of Match’s shares.
You’ll want to only consider stocks that have the capability of explosive up moves, to save you opportunity costs.
Referring to the price chart of Match, you can spot 11 huge and explosive up moves in a short span of 9 months.
Its smallest up move measures 5.4% while its largest measures 39.6%!
This is incredible, knowing that Match enjoys a market capitalization of more than $12b!
Is this all that’s left to analyze?
Not quite.
Since you and I are looking for a buying opportunity, let’s uncover its key price levels.
Key Price Levels
Identifying key price levels is essential as the share price of a stock tends to turn at these levels.
Yes, these key price levels are also known as support and resistance.
I’ve marked out the immediate support and resistance zones on the chart above, at ~$44.80 and ~$52 respectively.
Did you notice that the share price of Match is sitting in its support zone?
Hence, I’m watching this price zone closely, waiting for a swing trading opportunity.
It’s also worth noting that Match will be announcing its earnings results on 1 Aug 2023, so please trade with care.
The Strategy You Can Use To Swing Trade Match (MTCH)
After comparing the performance of MTCH with the broader US stock market, determining whether MTCH has experienced explosive up moves, and identifying its key price levels, it’s time to talk strategy.
To stay in business, you must know your entry, profit taking, and stop loss levels in every trading strategy. Yes, trading is a business, which means that your strategy must be well thought out.
Using The Art of Explosive Profits (AEP) framework, I’d like to see MTCH bounce from $44.80 before considering an entry for a swing trade.
As the name implies, you’ll be looking to consistently catch an explosive move in a short period of time.
Instead of relying on news and hearsay, the AEP course will teach you how to screen stocks for swing trading like MTCH.
You’ll also learn how to read charts and identify stocks that are about to make a big move.
Finally, you’ll learn how to identify the optimal entry, stop loss, and take profit levels to capitalize on these explosive moves (in a safe manner, of course)!
Can you apply the AEP framework to provide you with a side income while working full time?
Yes, you can!
Come, have a look at the AEP framework and incorporate this explosive trading strategy into your arsenal to capitalize on more swing trading opportunities.
Why Is Swing Trading MTCH Worth It?
Source: mtch.com
This dating stock has been rising quietly, outperforming the S&P 500 since Jun 2023.
Its shares have also exhibited its ability of bursting upwards explosively, potentially bringing you a sizeable profit.
While we wait for the setup, please keep in mind that I’m not a financial advisor, so please treat this as edutainment and conduct your own research.
Lastly, all images are from pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com.
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Trade safe!
