A “Swift” Bounce? (CNK)

by | Oct 3, 2023

Album sales have fallen for years and there’s no coming back.

Except for Taylor Swift albums.

And movie sales (outside of the doll genre) have been struggling.

Until the Taylor Swift movie this month.

Right now, everything the singer/songwriter touches turns to gold. 

If she attends a Chiefs game, Chiefs jerseys, attendance, and probably hot dog sales go through the roof.

And the same may happen to movie theaters. 

One theater chain near a breakout is Cinemark (CNK):

It popped to $18.85 a few months ago and it’s coming back again now in anticipation of the Eras Tour movie. 

A break above that level could lead to a nice run.

We’ll keep it on our radar.

Happy trading,

— Scott Welsh

P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.

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