Yqztv09
Long

TV going through a wedge, major resistance trendline

NYSE:TV   GRUPO TELEVISA SAB ADR-REPR 5 ORD PTG CERTS(BNY)
Shares of this stock were recently purchased by investment group Dodge & Cox, the prices are going through a major wedge shape, which is slightly pointed upwards at an angle. The top of the wedge is at a major resistance from the highest price the stock has reached dating back to 2015. The prices are also bouncing from the 200 MA, providing an area of support from which the prices can begin to trend higher. There is an area of consolidation which can be a short-term issue. However, a partial entry can be added on to later as prices trend higher if prices really do breakout that way.
There is a possibility for prices to fail to breakout from this zone, and they can trend lower to a further support below, where prices will again attempt to breakout from another major support. At that time the wedge will be descending, so there'll be stronger technical support for the idea that the prices are to breakout to the upside and continue on that way.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out