Gray Television recently entered into an agreement to purchase Raycom Media for $3.65 Billion. The combined company will have 142 full-power television stations in 92 markets, the 3rd Largest Portfolio of stations and markets in the United States.
Grays's station portfolio currently reaches about 10.4 percent of total U.S. television households, and with the combined company, Gray will reach 24% of households in the United States.
After the announcement, RBC lifted Gray Price Target to $19 and Wells Fargo lifted the price target to $28.
I looked at the weekly chart of Gray. Yesterday, the stock broke above the cloud, breaking through resistance and closed at $15.85.
Indicators are turning up. MACD turned positive and I think the stock will continue moving up from current levels.
Best of luck to everyone!
Thank you
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PURCHASE PRICE $14.77 - 25,000 SHARES
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ADDING 5000 SHARES
Cheap & Undervalued Company!
Purchase Price: $15.03
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For my followers...
I am looking at the MONTHLY CHART for this stock
Accum, MACD, Stochastics are trending up and RSI is over 50
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ADDING 10,000 SHARES
PURCHASE PRICE @ $15.00
I REALLY THINK THIS STOCK COULD DOUBLE
Trade closed: target reached
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CLOSED POSITION THIS MORNING ON EARNING BEAT!
I STILL THINK GRAY IS UNDERVALUED BUT TIME IS MONEY.
SOLD 40,000 @ $16.27
PROFIT: $53,600
Trade closed manually
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CLOSED POSITION THIS MORNING ON EARNING BEAT!
I STILL THINK GRAY IS UNDERVALUED BUT TIME IS MONEY.