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Emmis Communications Corp. Message Board

  • david_a_rankin david_a_rankin Sep 26, 2007 2:45 PM Flag

    Could be a good time to buy EMMS

    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.

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    • 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.

    • Correction. I said price should start to bounce back after today, but that was a weekly chart I was looking at so it should start to bounce back after this week.

3.95+0.01(+0.26%)Jul 29 3:59 PMEDT