Technical Setup: NEW YORK TIMES CO-A Appears Poised for a Breakout.

Our stock screener has identified NEW YORK TIMES CO-A (NYSE:NYT) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NYSE:NYT.

Technical Analysis Observations

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, NYT scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, NYT has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that NYT is one of the better performing stocks in the market, outperforming 88% of all stocks. We also observe that the gains produced by NYT over the past year are nicely spread over this period.
• NYT is one of the better performing stocks in the Media industry, it outperforms 90% of 97 stocks in the same industry.
• NYT is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so NYT is lagging the market slightly.
• In the last month NYT has a been trading in the 45.63 - 49.54 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

Check the latest full technical report of NYT for a complete technical analysis.

Why is NYSE:NYT a setup?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:NYT currently has a 10 as setup rating:

Besides having an excellent technical rating, NYT also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 48.99. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 47.79, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for NYT in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:NYT

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Of course, there are many ways to trade or not trade NYSE:NYT and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.