FOXA breaks below prior session low


Twenty-First Century Fox (FOXA) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team

Highlights

FOXA breaks key support level
FOXA closes below its opening price unable to hold early session gains
FOXA ends the day on a bearish note closing near the low of the day
FOXA runs into sellers again around 38.32
FOXA breaks below previous session low

Overview

FOXA finished Thursday at 37.77 losing $0.39 (-1.02%) on low volume. Trading $0.27 higher after the open, Twenty-First Century was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 37.80, the share confirms its breakout through the prior session's low having traded $0.10 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (FOXA as at May 17, 2018):

Daily technical analysis candlestick chart for Twenty-First Century Fox (FOXA) as at May 17, 2018

Thursday's trading range was $0.62 (1.63%), that's below last trading month's daily average range of $0.80. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bearish Outside Bar.

Breaking below the key support level at 37.89 today, it is now likely to act as resistance going forward. After having been unable to move above 38.27 in the previous session, the stock ran into sellers again around the same price level today, failing to move higher than 38.32.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Selling might speed up should prices move below the nearby swing low at 37.43 where further sell stops could get activated.


Market Conditions for FOXA as at May 17, 2018

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