World Wrestling Entertainment, Inc., an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments. It operates WWE Network, a live streaming network that offers pay-per-view events, original programming, and video-on-demand library; and produces television programming, reality shows, and other programming, as well as produces content via home entertainment platforms, including DVD, Blu-Ray, subscription, and transactional on-demand outlets.
Take a look at the 1-year chart of World Wrestling Entertainment, Inc. (NYSE: WWE) below with my added notations:
WWE has formed a support level at $16 (green) over the past three
months. In addition, the stock is declining against a short-term, down
trending resistance level (red). These two levels combined have WWE
stuck within a common chart pattern known as a descending triangle.
Eventually, the stock will have to break one of those two levels.
The Tale of the Tape: WWE is within a triangle
formation. A short trade could be made on a break of support or on a
test of resistance. A long trade could be made at support or on a break
through the triangle resistance.