Today’s recommendation comes from the technical analysis experts at Investors Intelligence, who have identified this stock’s recent one-day surge as a potential turning point.
“The New York Times Company (NYT, $9) rose 6.1% yesterday on news of an asset sale. That triggered a buy signal and importantly enabled a break of two year downtrend resistance.
“A base may be developing on the price chart, building for the past five years. If that’s the case, the upside potential is huge, up to $25.
“The P&F relative chart has improved this month and a base may also be building there. Speculative longs may be considered. Exiting should the present triple-top breakout fail.”
- Michael Burke and John Gray, Investors Intelligence, August 9, 2012