Watching DirecTV for a Sunday Ticket Higher
- Posted by Greg Harmon
- on September 11th, 2014
DirecTV, $DTV, is known for their Sunday Ticket promotion where you can see all NFL games every Sunday. So now that the NFL season is under way what does the stock say about the season? In a nutshell it looks ready to move.
The chart above shows a consolidation since May in a tightening range, a symmetrical triangle. the recent small pull back from a 5th touch on the triangle puts it on many trader’s radar. Thursday’s price action with a bullish engulfing candle, combined with rising momentum indicators, suggest that you watch the upside. And if it can break the top of the triangle this time the stock could reach 95 out of this pattern. It may be time to buy a Sunday ticket to ride this higher soon.
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Gregory W. Harmon CMT, CFA, has traded since 1986 and held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)