FOXA closes higher for the 2nd day in a row
Twenty-First Century Fox (FOXA) Technical Analysis Report for Sep 14, 2018
Moving higher for the 2nd day in a row, FOXA ended the week -0.88% lower at 44.81 after gaining $0.02 (0.04%) today on high volume. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.
Friday's trading range was $0.25 (0.56%), that's below last trading month's daily average range of $0.33. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 44.60 and 45.00 which it has been in now for the last three days.
Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.
Trading close to July's low at 44.59 we could see further downside momentum if potential sell stops at the level get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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