Gannett Co., Inc. operates as a media and marketing solutions company
in the United States and internationally. It operates through three
segments: Publishing, Digital, and Broadcasting. The Publishing Segment
operates 82 U.S. daily publications with affiliated online sites,
including USA TODAY, a national, general-interest daily publication;
USATODAY.com; USA WEEKEND, a magazine supplement for publishing
companies; Clipper magazine, a direct mail advertising magazine;
magazines for nurses and allied health professionals; and military and
defense publications. The Digital segment operates CareerBuilder.com, an
online job site to help companies target, attract, and retain talent.
The Broadcasting segment operates 23 television stations and affiliated
online sites, which offer news, entertainment, and advertising content;
and Captivate Network, a national news and entertainment network that
delivers programming and full-motion video advertising on video screens
located in elevators of office towers and hotel lobbies in North
America.
To review Gannett's stock, please take a look at the 1-year chart of GCI (Gannett Co., Inc) below with my added notations:
GCI has been working its way higher since June, but has since paused
in a sideways trading range. For the last (2) months the stock 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. GCI's
rectangle pattern has formed a $22 resistance (red) and a $20 support
(blue). A break above $22 would also be a new 52-week high.
The Tale of the Tape: GCI has formed a rectangle
pattern. The possible long positions on the stock would be either on a
pullback to $20, or on a breakout above $22. The ideal short opportunity
would be on a break below $20.
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