Bumble Inc (NASDAQ: BMBL) Bumble, Inc. provides online dating services via two mobile applications: Bumble and Badoo. The firm segments its business geographically into North America and the Rest of the World.

As per the previous recommendation on “BMBL” as on June 06, 2023, a ‘Buy’ recommendation was given on the stock at USD 16.84, and the stock is now up ~19.35% from our recommendation price and moved above R1 and R2 highlighted in the report.

Noted below are the details of support and resistance provided in our previous report.

Recommendation Summary as on June 06, 2023

SMTC’s Daily Chart

Considering the target level attainment, resistance around the current trading levels, stock taking resistance of the 200-day EMA, a 'Sell' rating is given on the stock at the current market price of USD 20.19, as of July 14, 2023, at 06:40 am PDT.

Note: This report may be updated with details around fundamental and technical analysis, price chart in due course, as appropriate.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance. 

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 14  July 2023. The reference data in this report has been partly sourced from REFINITIV. 

Note 3: Investment decisions should be made depending on an individual’s appetite for upside potential, risks, holding duration, and any previous holdings. An ‘Exit’ from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above. 

Technical Indicators Defined: - 

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock. 

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock. 

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

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