August 24, 2012
The New York Times Company (NYT)
Written By John Gray
“The New York Times Company (NYT, $9) rose 6.1% yesterday [August 8] on news of an asset sale. That triggered a buy signal and importantly enabled a break of two-year downtrend resistance. A base may be developing on the price chart, building for the past five years. If that’s the case, the upside potential is huge, up to $25. The P&F relative chart has improved this month and a base may also be building there. Speculative longs may be considered. Exit should the present triple-top breakout fail.”
Michael Burke and John Gray, Investors Intelligence, August 9, 2012
Tags: Media, NYT, technical analysis, The New York Times Company
All of the traditional newspapers are in decline. Even warren buffet recently gave up on one of the newspapers that berkshire hathaway owns.