HaseebKhan_90

NXST offering a pocket pivot entry

Long
NASDAQ:NXST   Nexstar Media Group, Inc.
* Okay earnings
* Steady up trend
* High RS in the Communication Services sector
* Trading in a tight range for the past ~9 months
* Last couple of days picking up high volume

Notes:
* This is still trading n a range so be careful. It may continue trading in this range.
* Pocket pivots indicate that the institutions are interested in the particular stock and are buying in to build their position.
* Given the price action, if this breaks and closes above 157.45 it'll most likely try and break out of this range.
* Level of support would likely be 147.14 from here.
Comment:
NXST broke out of the range indicated with higher than average volume. If you already have a position, this might be a great time to add on to it.
Comment:
Earnings are coming up next week on Thursday for NXST. I do expect this to hit our target and continue higher.