3/13/2017 – Sinclair Broadcast Group (SBGI) Stock Chart Review
Sinclair Broadcast Group ( SBGI) Stock Chart Review
Well, let's see if I can write an article on a company that Trendy Stock Charts members can actually read before they get bought out. That was a reference to yesterday's article about Mobileye (MBLY) in case you missed it.
After spending 4-5 hours Sunday researching some good looking charts and coming up with a $61 short-term price target, Intel Corporation (INTC) announced this morning that they are acquiring Mobileye for $63.54 per share. Why couldn't I have seen the charts for Mobileye a week ago?
Sinclair Broadcast Group (SBGI), a stock I used to analyze on the side with LittleBass several years ago, is another stock chart that I saw over the weekend which looks worthy of being included on your watch list. You can click on the company logo to visit the official website for SBGI.
There seems to be a lot of competition into not only delivering, but developing unique media content. They have always said content is king and that is proving true more than ever these days. Media companies play a vital role in delivering that content. And even media companies themselves have been merging in the last couple of years, trying to stay relevant.
I'm not exactly sure what sets Sinclair Broadcast Group (SBGI) apart from the others without further research, but I do know that its charts are looking rather bullish. So let's start with the charts for now and not waste any time - who knows what will happen with this next pick!
SBGI - 4 Year Trading Channel Breakout
This is a 5 year weekly candlestick chart for Sinclair Broadcast Group (SBGI). It looks like it's share price has been stuck in a trading range for the last 4 years. It finally broke out of that trading range in the end of February 2017. While not marked on this chart, the bottom of the Trading Channel is around the $24 price level, making the width of the channel approximately $12. This will be important to note in some calculations for upside price targets.
Since Sinclair Broadcast Group (SBGI) developed a Shooting Star candlestick pattern on the above chart last week, that could be an indicator that the….
If you want to continue reading this article for Sinclair Broadcast Group ( SBGI), you must first login. I look at some pullback areas to begin building a position in the stock as well as some of its upside target prices, both short and long term.
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