Discovery, Viacom, Liberty Media Heading Up

 

 

NEW YORK (Real Money) -- The stocks of cable and satellite entertainment content providers Discovery Communications  (DISCA), Viacom  (VIA), and Liberty Media Corporation (LMCA) have been undergoing price consolidation on their weekly charts. They look as if they are preparing to break above resistance and move higher. 

Discovery Communications can been seen operating in a four-month channel, beneath resistance in the $34.00 area and its 10-week (50 day) moving average. A triangle pattern has formed on the Liberty Media chart above the $37.75 area and below a three-month downtrend line. Finally, Viacom shares have been trending lower, but are back above their 10-week (50 day) moving average. They look ready to take on the long-term downtrend line that has defined their decline.

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