Six Flags Entertainment Corp (NYSE: SIX)

Six Flags Entertainment Corporation owns and operates regional theme, water, and zoological parks. The company's parks offer various state-of-the-art and traditional thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. It owns and operates approximately 18 parks, including 16 parks in the United States; 1 park in Mexico City, Mexico; and 1 park in Montreal, Canada. The company was formerly known as Six Flags, Inc. and changed its name to Six Flags Entertainment Corporation in April 2010. Six Flags Entertainment Corporation was founded in 1971 and is based in Grand Prairie, Texas.
To review Six Flag's stock, please take a look at the 1-year chart of SIX (Six Flags Entertainment Corporation) below with my added notations:
SIX has formed a very clear down-channel chart pattern over the last (6) months. A channel is simply formed through the combination of a trend line support that runs parallel to a trend line resistance. When it comes to channels, remember that any (3) points can start the channel, but a 4th point or more confirms it. You can see that SIX has several points of channel resistance (red) and support (blue). Following the SIX channel can provide you with both long and short trading opportunities.

The Tale of the Tape: SIX has formed a common pattern know as a channel, in this case, a down channel. A long trade can be entered on a pullback to the channel support, which at this point is near $31.50, or on a breakout through the channel resistance, currently sitting near $35. Short trades could also be placed at channel resistance or if SIX were to break below the channel support.
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