TwinTrader.com announces the publication of a breakout for Outdoor Channel Holding (Nasdaq: OUTD), an excerpt highlighting public companies on the move and what’s behind their stock activity.
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Outdoor Channel Holdings Inc. owns and operates Outdoor Channel, a national television network in the United States. Outdoor Channel offers various traditional outdoor activities, such as hunting, fishing and shooting sports, as well as off-road motor sports and other outdoor related lifestyle programming. The company also purchases advertisements in magazines that specialize in content similar to Outdoor Channel.
The breakout features board Outdoor Channel’s authorized addition of $5 million to its stock buyback program, bringing the total to $15 million, as well as the day’s technicals. The author writes:
“The board of Outdoor Channel authorized the repurchase of an additional $5 million to the original $10 million authorization to expire November 30. … Shares of Outdoor Channel have bucked the trend of the overall major market indexes. The stock shows extreme intraday volatility, but trades higher nonetheless. Management may have instructed their broker to buy after significant plunges, as the chart shows numerous long tails. The RSI clearly shows very stable bullish strength, not dropping below RSI(50) over the past 10 weeks. …”
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