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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
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A Nice Morning Pair for You

chessNwine Thu Aug 1, 2013 7:58am EST 2 Comments

Here is a pair trade idea in the broadcasting space.

MEG is a long idea ons strength above $11.10. It is a heavily-shorted issue and ripe for a squeeze up and out of this tight technical daily chart base, first below.

SBGI is a short idea on weakness below the support trendline I have drawn on the daily chart, second below.

Let’s see if they trigger and hold. Remember, no trigger, no trade.

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MEG

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SBGI

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2 comments

  1. Industry Insider
    Industry Insider
    August 1, 2013 at 8:25 am

    Nice. Might just have to take a shot at $MEG…if it triggers, that is. We’ll see…

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