Long Position on SNI @ $64.75 on 4/12/2016 (Momentum)

Bullish Cup and Handle on SNIScripps Networks Interactive, Inc. (SNI) develops lifestyle-oriented content for linear and interactive video platforms in the United States, the United Kingdom and other European markets, the Middle East and Africa, the Asia-Pacific, and Latin America.

The company delivers content that focuses on specifically defined topics of interest for audiences and advertisers.

It operates national television networks, including Home and Garden Television (HGTV), Food Network, Travel Channel, DIY Network, Cooking Channel, and Great American Country; and Websites comprising HGTV.com, FoodNetwork.com, TravelChannel.com, DIYNetwork.com, CookingChanneltv.com, and GACTV.com that are associated with the aforementioned television brands and other Internet-based businesses serving home, food, and travel related categories.

The company also operates a portfolio of free-to-air and pay-TV lifestyle, and entertainment networks internationally, including TVN, TVN24, TVN Style, TTV, TVN Turbo, TVN24 Biznes i Swiat, and TVN Media.

In addition, it licenses its content to third parties; and brands for consumer products, such as videos, books, kitchenware, and tools. 

Shares have formed a bullish "cup and handle" after the company reported strong ratings inn March, as well as taking a 35% stake in the Travel Channel Media. Higher share prices are expected for this stock.

52-Weeks Trading Range: $47.62 - $72.11

Entry Point: $64.75

Stop Loss: $61.50

Target Price: $71.22

Updates

5/31/2016 10:11:00 AM

SNI closed at $64.30

Position closed on 5/31/2016 at price of $64.30 with a -0.69% loss in 49 days.

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