New York Times to breakdown from a flag?New York Times Co - 30d expiry - We look to Sell a break of 35.19 (stop at 36.39)
Short term bias has turned negative.
Trading has been mixed and volatile.
Trading within a Corrective Channel formation.
Price action is forming a bearish flag which has a bias to break to the downside.
35.29 has been pivotal.
A break of the recent low at 35.29 should result in a further move lower.
Our profit targets will be 32.19 and 31.19
Resistance: 36.40 / 36.80 / 37.80
Support: 35.70 / 35.29 / 34.50
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