Match Bears Are Swiping; But Do They Know How to Swim?

Match Group, owner of Tinder and other assorted dating app/website meat markets like OK Cupid and Plenty of Fish, remains one of the most heavily-shorted issues in the entire market when viewed through the prism of the percentage of shorts relative to its float (shares outstanding). 

MTCH was spun off from IAC a while back, and has been met with skepticism by various shorts along the way. However, the stock has been remarkably resilient, shunning the bear case since its August 2017 breakout. 

Even with MTCH's multi-month consolidation this year, since May, the selling never really spiraled out of control. And now we have one of the better-looking long ideas in the market exuding impressive relative strength today as the S&P 500 Index pauses at prior all-time highs from January. 

On the MTCH daily chart, below, we have a stock also dealing with recent all-time highs of its own, with MTCH actually printing those highs last week. 

As you can see, we have an attractive, flagging chart threatening to drag bears higher for another round of swiping if they fail to prevent an imminent breakout higher. The heavy short position adds fuel to the fire, making the name all the more attractive.