EMMS has bounced off $4.75, which is the lower side of a descending triangle taggged once on 5/6/2005 at $15.30, the second time on 12/8/2006 at $8.20 and the third time today at $4.75. Since the trend is still down EMMS can't be considered a long term buy candidate, but price should reverse after today and start back up for a while.
On Friday Moody's downgraded EMMS debt rating further into junk territory due to increased debt, but stated that the company's finances are stable. One of the maxims of Wall Street is that a stock is ready to turn when bad news no longer has an affect. The current rally is starting to look more and more like the real thing, but will be more convincing with a close above $5.86 which would represent 2 higher lows and 2 higher highs.
If you did you dumbshits would know Jeff Smulyan knows wwhat the hell he is doing, taking WIBC to FM and making AM staion an all sports stations , all other stations in Indy are Lost....he owned Seattle Mariners and made money , in my opinion i'm betting on him and his business savvy , rather than a bunch of yahoos on this board.....Jeff