The Madison Square Garden Company is engaged in sports,
entertainment, and media businesses in the United States. It operates
through three segments: MSG Media, MSG Entertainment, and MSG Sports.
The MSG Media segment produces and develops content for various
distribution platforms, including content originating from its venues.
This segment consists of MSG Networks, its regional sports networks; and
Fuse, a national television network dedicated to music. It also manages
interactive Web sites, social networking sites, and mobile applications
for its properties. The MSG Entertainment segment presents or hosts
live entertainment events, such as concerts, family shows, performing
arts, and special events in its venues, as well as creates, produces,
and/or presents live productions. The MSG Sports segment owns and
operates sports franchises, including New York Knicks, New York Rangers,
New York Liberty, and Hartford Wolf Pack. This segment also promotes,
produces, and/or presents an array of live sporting events at its
venues, such as professional boxing, tennis, college basketball,
professional bull riding, wrestling, gymnastics, and track and field
meets, as well as the NFL Draft.
Please take a look at the 1-year chart of MSG (The Madison Square Garden Company) below with my added notations:
MSG had held a very important level of support of $55 (red) back in
February, March and April. The stock then rallied higher and peaked in
the $63 area a couple of times. Now, MSG is approaching $55 again and
that might provide another bounce higher, but the stock's recent
downward move could be setting the stock up for a breakdown.
The Tale of the Tape: MSG has a key level of support
at $55. A trader could enter a long position at $55 with a stop placed
under the level. If the stock were to break below the support, a short
position would be recommended instead.
Please share this article
No comments:
Post a Comment