You have to look beyond the day-to-day news headlines and focus on the price action of Viacom (VIA). The chart of VIA is shaping up nicely, and a mark-up phase to around $65 could get going soon.
In this daily chart of VIA, above, we can see that prices are above the rising 50-day simple moving average line and the rising 200-day line. Math is on the side of the bulls. Notice the mid-June dip in the price of VIA towards these two averages? That was a great buying opportunity, in my opinion.
The On-Balance-Volume (OBV) has begun to move up quicker, indicating that buyers of VIA are more aggressive and that the volume of trading has been higher on days when VIA has closed up on the day.
This weekly chart of VIA, above, is shaping up nicely since our last inspection of June 7th. VIA is above the now rising 40-week moving average line. The OBV line on this timeframe continues to rise sharply, confirming the price advance. The Moving Average Convergence Divergence (MACD) oscillator has moved up and is close to crossing above the zero line for an outright go long signal.
Strategy: I would trade VIA from the long side and add to longs on strength above $51 and $53. $65 is my intermediate-term upside price objective. A close below $44 would upset me and probably other bulls.