Scripps Networks Interactive, Inc. or SNI in the New York Stock Exchange is an American Media company that owns Cooking Channel, DIY Network, HGTV and co-owns Travel Channel and Food Network. They were formed back in 2008 as a spin out of the E. W. Scripps Company founded by Edward W. Scripps. During yesterday’s trading session, their stocks declined 1.43% to $40.74.
There could be a head and shoulders formation on their stock chart and this could propel the stock price lower. Once the price breaks below the head and shoulders neckline, it could find some support at $38.00. If that marker gets further breached, the next support could be $36.00. In case the stocks don’t breakdown from the head and shoulders setup and decide to move higher, the immediate resistance could be $43.15. If the stocks move past above the $43.15 price mark, the next resistance could $45.58.