Trade Ideas: LGF

Markets are treading water in the run up to tomorrow's Fed meeting. The Trade Ideas scan was also relatively quiet as it took 4 minutes to come up with 8 stocks. Topping the bill at 32 appearances was IShares Dow Jones Energy (IYE). This was well clear of a glut of stocks appearing around 20 times over the course of the day. The best looking of the bunch was Lions Gate Entertainment (LGF).

The stock is breaking from a consolidation triangle on light volume after moving away from the May/July double bottom. The potential upside is $12.50 (measured move forward). Stops can go on a loss of triangle lows and/or May/June reaction highs.

Lions Gate Entertainment Corp. engages in the production and distribution of motion pictures, television programming, home entertainment, family entertainment, video-on-demand, and music content. Its theatrical movies include its in house production and films acquired from third parties. The company distributes a library of approximately 3,000 motion picture titles and 2,500 television episodes and programs directly to retailers, video rental stores, and pay and free television channels in the United States, the United Kingdom, and Ireland, as well as indirectly to international markets through third parties. Lions Gate Entertainment also operates Eagle Creek Studios, which offer rental of sound stages, production offices, construction mills, storage facilities, and lighting equipment to film and television producers. In addition, it licenses to domestic and international markets of one-hour and half-hour drama series, television movies, and mini series and nonfiction programming. The company was founded in 1986 and is headquartered in Vancouver, Canada.



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