FOXA breaks below 50-day moving average
Twenty-First Century Fox (FOXA) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
FOXA finished the week 0.13% higher at 45.48 after losing $0.12 (-0.26%) today on low volume. Trading up to $0.13 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (FOXA as at Aug 10, 2018):
Friday's trading range was $0.32 (0.7%), that's far below last trading month's daily average range of $0.59. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Prices are trading close to the key resistance level at 45.63. After spiking up to 45.60 during the day, the market found resistance at the 50-day moving average at 45.55.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The stock broke below the 50-day moving average at 45.55 today for the first time since April 20th.
Buying might speed up should prices move above the nearby swing high at 45.79 where further buy stops could get activated. Selling might accelerate should prices move below the close-by swing low at 44.76 where further sell stops could get triggered. Further selling might move prices lower should the market test July's nearby low at 44.59.