The 24th January, Meredith Corporation has published record revenues for the second quarter of 2013 (+10% compared to the same period the previous year). At this moment the stock had, consequently, broken out the USD 36.75 resistance.

After a sharp rise toward USD 44.2, the security has run out of steam and return to the USD 36.75 area, which is now a major support. Thanks to this level and the 50-day moving average in support, prices should bounce toward USD 41.2.

The most active investors can buy the share in this area and target a return toward USD 41.2, then USD 44.2. A stop loss can be placed under the USD 36.75 support.