I am not initiating it just yet. But as a long-term idea, “The Old Grey Lady” is showing the hallmarks of a major bearish-to-bullish reversal which is just now starting to assert itself. Specifically, the NYT will close out the month of May with a bullish monthly marubozu candlestick on heavy buy volume, which denotes buyers effectively owned the month’s price action from start to finish.
When you put that in the context of price popping out of a long, base bottom from a stock which fell from $53 down to $3, the case for enormous upside now becomes a viable one. In addition, the stock now has a healthy short position, meaning there is fuel for the upside fire if proven correct.
I am looking for $9.75 to act as a floor on pullbacks. And I will keep you posted.
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Good eye, love it!