June 4 Chart of the Day - Nexstar Media Group
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
Nexstar Media (NXST) has been making headlines—because, well… they are the headlines.
But while the media buzzes about the news, we’re more interested in what the chart is broadcasting.
Price is telling its own story, and today we’re tuning in to uncover key levels of interest in both directions.
Let’s see what the price action reveals.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.
Since May 2023, we've showcased over 500+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method™.
Monthly Chart
On the monthly chart we can see that after setting its $217.76 all time back in 2023 price fell dramatically, launched back to the upside before getting firmly rejected and pushed down.
Price has flirted with a bear/bull line in the $133 area multiple times.
This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.
Weekly Chart
On the weekly chart, we can see with much more clarity the volatile swings in both directions with price ultimately making a series of higher highs and higher lows.
One could say that a "bull flag" pattern has been forming and could continue to fill out.
A bull flag pattern is a bullish continuation pattern that forms after a strong upward price movement (the “flagpole”), followed by a brief period of consolidation that slopes slightly downward or sideways (the “flag”). It reflects a pause in momentum before the next potential leg higher.
If the $130 area fails price may want to ultimately visit the $110 area. But the bulls are sure to continue fighting around the current area on the chart.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.
With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
Because You Were Interested in today's FREE Chart of the Day...
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- Free Guide: 6 Fibonacci Types that Create the Most Precise Price Targets and Reversal Zones
