ITM.Trading
Long

Bullish technicals. 3 layers of support @ $23

NYSE:SSP   E.W. SCRIPPS COMPANY (THE)
32 0 0
There are 3 layers of support at the $23 level which the price action has also respected.
1) Horizontal level from early 2015
2) Up trending support level from October 2014
3) 0.618 fib from the Feb low to April high
Furthermore the MACD histogram is tightening and the volume is slowing, indicating the potential for a turn here.
It is worth noting that part of the fall from April can be attributed to the stock going ex dividend for $1.03/share.
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