VIAC inverse H&S pattern

٢٧ نوفمبر ٢٠٢٠

Viacom CBS has been trading at an extremely attractive P/E ratio for a while now and it appears to be poised for a breakout. The deep-red line is the line in the sand. I see an inverse head-and-shoulder pattern indicating a bullish breakout could be in the works. Great long-term hold and has a surprisingly impressive streaming business. I don't expect a huge spike in one day, but I expect it to be a slow and steady upward trend as the rotation from growth and richly-valued stocks continue into the stocks that have still not had their day in the sun. The current P/E ratio is about 8x; on average 17x is considered normal. That's an easy double overtime in my opinion.