• Chart of the Day: Pandora Media, Inc. (P)

    by  • September 6, 2013 1:54 pm • Charts to Watch, Quick Hits, Tony Venosa's Chart of the Day • 0 Comments

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    Today’s chart is of Pandora Media, Inc. (P) which provides Internet radio services in the United States. The company allows listeners to create up to 100 personalized stations to access unlimited hours of free music and comedy, as well as offers Pandora One, a paid subscription service to listeners. It is also involved in the sale of displays, audio advertising, and video advertising products to advertisers for delivery on computer, mobile, and other connected device platforms.

    Ticker:  Pandora Media, Inc. (P)

    What I Am Looking At:

    • Shares showing promise after bad earnings reaction in mid-August
    • Big outperformer, up nearly 115 percent year-to-date
    • Bounce from the significant rising 80-day moving average (purple line) and the July lows
    • Looking for a successful retake of the round-number $20 level
    • Peak put open interest for the September series resides at the 19-strke which could be supportive
    • Quarterly revenue growth (year-over-year) 55 percent
    • 19 percent of the float is sold short, potential for short-covering tailwind
    • Takes nearly 5 days to cover based on average daily volume
    • 6 out of 16 analysts rate the shares a “hold”, could see upgrades
    • The 10-day buy-to-open put/call ratio showing pessimism as the reading ranks in the 82nd percentile during the past year
    • Gap lower in mid-August may act as resistance


    Strategy:  Buy with a stop under $18

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    Tony Venosa, CMT is a Senior Options Strategist and works on the trading desk at Schaeffer’s Investment Research. He joined Schaeffer’s in 2010. He has worked in the finance industry for over 15 years. He began his career as a trading assistant in Chicago on the floor of the Chicago Mercantile Exchange. He later moved upstairs and worked as a commodities broker on both the retail and hedging side. He left the brokerage industry to begin his trading career as a proprietary equities trader at a Chicago firm. In 2000, Tony moved backed to his hometown and continued trading his personal account. He later went on to earn his Chartered Market Technician designation. He earned a B.S. in Finance from Miami University. Tony’s main focus is short-term directional option trading.


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