The Lion is Ready to Roar
- Posted by Greg Harmon
- on August 30th, 2012
Lions Gate Entertainment, $LGF, has been the source of a lot of news and controversy in the past year. Carl Icahn has publicly chastised management then backed off. The Mad Men negotiations dragged out the season starting. The Hunger Games created a parabolic move in the stock. But if you pullback from these fluctuations and look at the daily chart below, the stock is just now breaking out of a 5 and a half month symmetrical triangle to the upside with a target of 19.60. Is it a coincidence that Mad Men is set then? I think not! Supporting the breakout higher is a rising Relative Strength Index (RSI) about to turn bullish and a Moving Average Convergence Divergence indicator (MACD) that is positive. Use a move over 15 as an entry. That still leaves a lot of upside potential.
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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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