The dating stocks have been performing quite well recently. This week, MeetMe (MEET) is breaking out from a large base. Last month I featured Match.com (MTCH) as it was starting to perform better. Today, MeetMe broke out to new highs. This 7-year chart shows an annual trek to challenge the breakout level in the last 4 years. This week, it has finally broken through the ceiling. With only 2 days gone in the week, this stock is really accelerating on huge volume. It is already 50% above the average weekly volume.
The Relative Strength in purple also broke to fresh three-year highs as well. With the MACD turning up while above zero, this stock has lots of positive momentum here. As the rest of the world has trouble deciding to stay in a relationship (Brexit), this stock suggests lots of demand for new relationships.
Good trading,
Greg Schnell, CMT, MFTA.
