[Premium] Trade Of The Week

JC Parets
April 5, 2022

Media has been in the media for a while. (Just had to do that.) The sector has performed well and one of the constituents looks prime for a good move.

Today we are looking at a long set up in the Media sector and we're here to discuss just that.

TV18 has been a part of our trade ideas section for a while now. With the new monthly candlesticks at hand, we got a new breakout as well!

The price has moved past its overhead supply zone of 70. Keep in mind, that this is a big base breakout. On a monthly chart, no less. We're talking about close to a 12-year base! We've seen a strong move come through in TV18 since it crossed levels of 40 & 50. And the momentum has been supportive throughout.

On a relative basis too, the ratio is trading at close to 5-year highs! It is crucial to point out here that the stock is finally in a long-term bullish set up now. For almost 12 years it's been moving sideways. So a lot is happening here.

With strength growing in the Media sector, there's no reason why this smiley face shouldn't bring you joy.

We are bullish above the risk management level of 70, with a target close to 135.

Thanks for reading and please let us know if you have any questions.

And if you're a Premium Member, be sure to check out our other weekly post, "Three Charts For The Week Ahead."

Allstarcharts Team

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