$MSGE positive RSI divergence on the weekly

NYSE:MSGE   Madison Square Garden Entertainment Corp
Double bottom formation along with a positive divergence in RSI make MSGE look like a prime buy into the New Year. 20-week MA beginning to curl up. Go long MSGE . There's been a lot of volatility in this stock since it's heavily correlated to reopening, but that headwind could be on the verge of turning into a tailwind.

Omicron peaked very rapidly in other countries so we should expect the same here. And we may be reaching the peak right now. A huge spike in Omicron cases was recorded over the holiday weekend in the USA, which could signal the end to this pandemic, when covid finally becomes endemic.

I was definitely a little early on this but I have had a good amount of success trading options in this stock so it is one of my favorites to trade and now I think it is the proper time to initiate a long position. It should easily reach its prior highs, breakthrough and head towards the $150's as life gets back to normal and live events roar back.

This is not a recommendation, just an opinion, please do your own D.D.


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