Media General (MEG) : Traders are bullish on Media General (MEG) as it has outperformed the S&P 500 by a wide margin of 2.66% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.16%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.33% in the last 1 week, and is up 2.11% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 2.83% and the 50-Day Moving Average is 3.73%.The 200 Day SMA reached 8.59%
Media General (NYSE:MEG): After opening at $18.15, the stock dipped to an intraday low of $18.1 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $18.51 and the buying power remained strong till the end. The stock closed at $18.43 for the day, a gain of 1.65% for the day session. The total traded volume was 1,743,908. The stocks close on the previous trading day was $18.43.
Media General, Inc., formerly Mercury New Holdco, Inc., is a connected-screen multimedia company. The Company provides news, information and entertainment. The Companys segment include Broadcast segment, which has around 71 television stations that are either owned, operated or serviced by the Company in around 48 United States markets, all of which are engaged principally in the sale of television advertising, and Digital segment, which includes digital companies: LIN Digital, LIN Mobile, HYFN, Inc. (HYFN), Dedicated Media, Inc. (Dedicated Media), BiteSize TV and Federated Media, as well as the business operations related to the television station companion Websites. LIN Digital provides display and video advertising. LIN Mobile provides mobile advertising. Federated Media provides display and video advertising. Dedicated Media provides marketing, data focusing and analytics for digital marketing campaigns. HYFN is a digital agency. BiteSize TV is a video content creator.