Friday, April 26, 2013

Lions Gate Entertainment Corp. (NYSE: LGF)

Lions Gate Entertainment Corp., an entertainment company, engages in motion picture production and distribution, television programming and syndication, home entertainment, family entertainment, digital distribution, new channel platforms, and international distribution and sales activities. The company operates through two segments, Motion Pictures and Television Production. The Motion Pictures segment engages in the development and production of feature films; acquisition of North American and worldwide distribution rights; North American theatrical, home entertainment, and television distribution of feature films produced and acquired. The Television Production segment is involved in the development, production, and worldwide distribution of television productions, including television series, television movies and mini-series, and non-fiction programming. The company distributes a library of approximately 13,000 motion picture titles, television episodes, and programs directly to retailers, rental kiosks, and pay and free television channels through various digital media platforms in the United States, Canada, the United Kingdom, and Ireland, as well as indirectly to other international markets through its subsidiaries and various third parties.
To review Lions' stock, please take a look at the 1-year chart of LGF (Lions Gate Entertainment Corp.) below with my added notations:
1-year chart of LGF (Lions Gate Entertainment Corp.) For the last (2) months LGF has been stuck within a common pattern known as a rectangle. Rectangle patterns form when a stock gets stuck bouncing between a horizontal support and resistance. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern. LGF's rectangle pattern has formed a $24 resistance (red) and a $22 support (blue). A break above $24 would also be a new 52-week high.
The Tale of the Tape: LGF has formed a rectangle pattern. The possible long positions on the stock would be either on a pullback to $22, or on a breakout above $24. The ideal short opportunity would be on a break below $22.
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