VIACOM IDEA
Viacom has been in an uptrend since March, and I think this week will test this uptrend. The trendline has grinded the 50 EMA over the previous two trading days, but did finish the week on a strong note.
I will be looking for the trendline to break ~28.57 as resistance, and looking for an entry point at ~29.10, with stop loss at 25.03.
If successful, I can see VIAC running up to 31.49 especially given earnings season. ViacomCBS has been one of the main broadcasters of NFL, and the public has been more intrigued than ever this season given the pandemic.
I will be looking for the trendline to break ~28.57 as resistance, and looking for an entry point at ~29.10, with stop loss at 25.03.
If successful, I can see VIAC running up to 31.49 especially given earnings season. ViacomCBS has been one of the main broadcasters of NFL, and the public has been more intrigued than ever this season given the pandemic.
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