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Has the Cable Industry Topped? Cord Cutting is Real

Has the Cable Industry Topped? Cord Cutting is Real $CHTR $CMCSA $TWX $SPY #cable #espn @ESPN

I have been a fan of cord cutting for a while. My wife and I have cut the cord and currently subscribed to Netflix, Amazon Video, and Spotify to name a few.

Comcast (CMCSA) was way to expensive and quite frankly all we ever watched was ESPN anyways. We never really have time to sit around and watch cable and there is no episode on TV that I NEED to watch live that can’t wait for the next day,…

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Look to Fixer Upper your Portfolio with Scripps

Scripps Networks Interactive ($SNI) develops and delivers lifestyle broadcast content around the world.  One of their shows on HGTV, Fixer Upper with Chip and Joanna Gaines is constantly replaying on our DVR.  If you don't watch the show perhaps you can just look to the stock to fix up your portfolio.

The chart below shows that the stock ended a long decline in September.  It took a long time to decide if it wanted to move higher but finally did in February.  It found resistance in April at $67 and fell back.  A series of rebounds and the lower lows has created an expanding wedge, or megaphone since April.  The last 3 weeks has seen the price consolidate at the top of that wedge.  

As it consolidates the Bollinger Bands® are squeezing in.  This is often a precursor to a big move.  The momentum indicators are bullish.  The RSI is rising in the bullish zone and the MACD is trying to move back higher after a level period.  A break of this wedge to the upside would give a target to 75.  And with over 14% of the float short it has fuel for that kind of move to happen fast.  Note that the company reports earnings August 9th.

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The Property Brothers Recommend Scripps Networks

I know they are a bit biased, as their popular home buying and improvement show is part of Scripps Networks ($SNI) programming, but they may have a point. The stock went through along turn lower finding a bottom in September. Since then it has consolidated though in a wide range.

The particulars of that range show a series of higher lows and higher highs. the last few days the price has broken above an ascending triangle. This move would give a target of 77.50. With the price holding here it gives a good reward to risk to the upside on a move higher.

But it also shows signs of being overbought. Momentum is starting to fade with the RSI turning lower. The MACD is also rolling over. Will this be another trip to the bottom of the triangle? Just like in Jonathan and Drew's show, you have choices. If the price falls below the top of the triangle look to the short side and a continuation higher is a buying signal. No wonder those guys always look happy. They win either way, now so can you.

Did you see we are auctioning off up to 15 Annual Memberships this week? Check it out.