Look Out Below In Lendingtree After Q3 Miss

Lendingtree Inc TREE shares are trading lower by $16.00 at $75.27 in Thursday's session. Investors are abandoning the issue after a Q3 EPS miss of $0.03 along with a slight miss for revenues. The company guided lower for FY 2016 revenues.

Following a sharply lower open, it managed a brief rally to $79.83 before continuing its downward spiral. That high is well shy of the lower-end of Wednesday's range, which was $88.77.

From there, it has continued to make lows for the session, with the current one standing at $75.05. If the decline continues, the next support level might not come in until its June 24 low ($73.65). If the issue exceeds that low, there may be additional support at the trio of lows at the $71.50 area from mid-June.