Interactive Media Name Nearing Bull Pennant Breakout
Match Group (MTCH) shares of the interactive media name are nearing a trending break as a bull flag has formed all month inside its value area and now looks ready to run above the 37.50 trigger level. MTCH seeing a bullish MACD cross today as well and a breakout from here can see a push to 40. Short float is 7.6% so can see some acceleration on a breakout from shorts covering. MTCH still has 3000 October $37.50 calls in open interest from the buyer on 8/27 and 7700x Jan $40 calls still holding in OI.