FOXA breaks below prior session low
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.
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.
While classical technical analysis indicates a very bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Twenty-First Century Fox
|Close to S1 Support||TQ Pro Members Only|
|Doji||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Bearish Bounce off SMA 20||TQ Pro Members Only|
|Gravestone Doji||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
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