Match Group Inc. (NASDAQ: MTCH) shares rose in value Monday Dec 5 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, the Dow Industrials on Monday opened at an all-time high as investors dismissed concerns about the outcome of Italy’s referendum on Sunday.
The Dow Jones Industrial Average rose DJIA, +0.41% 85 points, or 0.5%, at 19,260, the S&P 500 index SPX, +0.42% began trade 9 points, or 0.4%, higher at 2,201, while the Nasdaq Composite Index COMP, +0.43% advanced 27 points, or 0.5%, at 5,282.
Analysts at Vetr Inc. upgraded shares of Match Group Inc. (NASDAQ: MTCH) from Buy to Strong-Buy today. With a rating of Strong-Buy on the shares, the company has a 52-week high of $19.74. A number of other analysts have spoken on the company recently, and Match Group Inc. has secured a consensus one-year price target of $18.69, above the opening price of $17.25. Share prices sometimes get a spike to the upside when analysts upgrade a stock.
Match Group Inc. (NASDAQ: MTCH) shares last traded at $17.55, a jump of $0.44 or 2.54% from the previous closing price. Opening at $17.25, they ranged from $17.15 and $17.62 throughout the day.
Match Group Inc. (NASDAQ: MTCH) currently has a market cap of 4.47B.
Match Group Inc. (NASDAQ: MTCH) Average Daily Trading Volume
69,357 shares traded hands yesterday, below normal, out of a total float 39,223,000. Trading volume is likely to increase in the next few days as swing traders often use increases in trading volume to pinpoint heavy volume accumulation or circulation by institutional investors.
However, a single day of heavy buy side trading is not enough to affirm a trend. As such, market traders will continue to look for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts that investigate thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Match Group Inc. (NASDAQ: MTCH) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
Traders can make more useful choices on trades when they follow the activity of professional investors.
Trades for Match Group Inc. (NASDAQ: MTCH) have ranged from $8.41 – 19.740, and the stock now has a 50-day MA of $17.80 and 200-day MA of $16.09. Today’s last price is 11.12%% under the 52 week high of $19.74.
Earnings growth is a critical factor to consider when buying stocks and investors seek companies that have grown their earnings at least 25% or more for a 3 year period.
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