Bumble Posing Positive Returns Despite Current Market Trend Bumble shows weak development in a falling trend channel in the medium long term. Falling trends indicate that the company experiences negative development and falling buy interest among investors.
An inverse head and shoulders formation, however, is under development. A decisive break of the resistance at $15.15, ideally with an increase in volume, signals a further rise. The stock is testing resistance at dollar 15.30. This could give a negative reaction, but an upward breakthrough of dollar $15.30 means a positive signal.
Bumble
Bumble | BMBL | Short to Gap FillBumble ( NASDAQ:BMBL ) jumped well over +40% on an earnings miss... While it may have "new news" life in the coming days as analysts slash their targets and headlines declare "stock can surge nearly 200%" (source: CNBC)... it is likely to fill the gap or partially fill the gap below ($17.13 to $29.28) before truly making a *long-term* move higher. If the rally continues this week, though, it may test $25.50 or could go as high as $28 (50 EMA) or even $29.50 (near the resistance of the falling wedge). Regardless, the March 2022 Fed meeting and OpEx are next week. I can see the rally news fading rather quickly and this correcting to fill or partially fill the gap in March or perhaps early April.
Q4 2021 Earnings Details: (source: Google Financials)
Paying users = 2.98 million (Estimate of 3 million)
EPS = $0.02 (Expected = $0.10, Surprise = -76.92%)
Revenue = $208.22M (Expected= $209.18M, Surprise -0.46%)
While Bumble and Match likely have great futures and long-term growth in the dating world, it's possible the Bumble post-earnings rally is only temporary.
BUMBLE IPO -- $10 MOVE; CHEAP DATE!
Time to watch another IPO NASDAQ:BMBL
Usually the initial daily price range of anything that has zero history, will give strong support and resistance levels the 1st time they are met, with profits zones back to the opening daily range.
That said, as the chart suggests, I'm looking at $88 as a topping out point AND OR $61 as a bottoming point, both giving the potential for a $10 (10%+) play.
*There is a temporary price level that could be used for support and or resistance going either direction. Certainly a point to watch, if its needed.
*This is my trade idea and not considered as advice*