Monday, December 21, 2009

New York Times (NYT) ... about to breakout ??


As seen below New York Times Co.-Class A (NYT) has had another big volume surge this past week within the context of a nice base.  This is all occurring as NYT approaches horizontal resistance near $ 11.50 (orange lines) and a downtrend line (red line).  Above these levels shares can run quickly to $ 15.00.

Peers such as GCI and WPO have also been showing technical strength of late as well.  Additionally add sales have come back strong from last year levels and we would suggest the technical strength is a preview of what are likely to be a continued rebound in ad sales.  Smart investors may want to position ahead of this and jump on the breakout.

As an additional catalyst there is the continued rumor that GOOG may be a suitor.

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