In the Zone

iHeartMedia, Inc.

 

In the Zone this week is iHeartMedia, Inc. in which trades on the Nasdaq Composite Index under stock symbol IHRT

 

iHeartMedia, Inc. operates as a media and entertainment company worldwide. It operates through two segments, Audio, and Audio and Media Services. 

 

The Audio segment offers broadcast radio, digital, mobile, podcasts, social, program syndication, traffic, weather, news and sports data distribution, and on-demand entertainment, as well as live events, including mobile platforms and products; and operates Premiere Networks,  a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,200 radio station affiliates.

 

If you have a look at a stock chart of Iheart Media you will notice that this stock has been trending higher to the upside for the past 9 months coming from an April 2020 price low of $4.31. As for now the stock is currently up 237.35% since then. What I am looking for going forward is a price breakout above its January 2020 price high of $17.68 in order to take this stock higher to the upside in the near term.

 

At the close of trading in the market to end the month on Friday the stock ended the day trading at $14.54 up $.12 or +0.83% on heavier than average trading volume of 1.74 million. The average daily trading volume for the stock is 1.06 million.

 

In the week ahead please keep this stock on you watch list and set your price alerts for a potential breakout in price above $17.68. As for now 98% of all movement in the stock market depends on the direction of the general market, as we are in a market that is currently under pressure. So please keep that in mind as we go into trading in the week ahead.

 

By Marlin Rolle

 

Please note that all the stocks listed are not buy recommendations; please do your own due diligence or get help from a professional before trading.