Shares of Liberty Media (LMCA) do not have a long trading history, but shares appear to be headed to new all-time highs.
In this chart of LMCA, above, we can see that the stock tested the $35 level 3 or 4 times, and at the end of September, started a strong advance, taking prices above the 50-day Simple Moving Average and the 200-day average. Prices made new 52-week highs over the past month, and the slope of the 50- and 200-day averages turned up. The On-Balance-Volume (OBV) line inched up last month, too.
This chart of LMCA, above, shows a number of bullish setups. Prices for LMCA are above the 40-week average, and the slope of the 40-week average has been positive for about a year. The OBV line has been moving up in fits and starts since the beginning of the year and the Moving Average Convergence Divergence (MACD) oscillator crossed above the zero line. A test and breakthrough over the all-time high of $42 is likely. There may or may not be a pullback to buy, but sell stops should be below $38, for now. The height of this sideways consolidation is $10, and adding that to a breakout at $42 would give us $52 as a potential price target.