ITV trades at yearly high ahead of final results

ITV is set to report final results on Tuesday 9th March. It does so as the stock trades at a yearly high but still 50% lower that where it has traded over the past 5 years.

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ITV is due to report final results on Tuesday 9th March. It does so as the share price sits at a 12-month high but is still some 50% lower than where is was over the past 5 years.

The two key areas two watch in the results will be:

1) The Studios business and the extent to which the covid has resulted in higher costs and production delays impacting revenue and margin.

2) Advertising revenue as reduced marketing spends have hit advertising revenue hard at ITV. Broadcast revenue is down some 13% in the first 9 months to £1.3 billion.

The daily chart shows an established bullish trend with the RSI supportive of further gains. 

Immediate resistance is seen at 120p at the 12-month high ahead of 137p a pre-pandemic level

Support is seen at 112p the ascending trend support ahead of the 50 sma at 109p. A fall below this level could negate the bullish trend and open the door to 100p the 100sma.

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