NWS.AX breaks below previous session low
News Corp Class B Voting Common Stock-Cdi (NWS.AX) Technical Analysis Report for Jul 13, 2018
Moving lower for the 2nd day in a row, NWS.AX finished the week 1.19% higher at 21.26 after losing A$0.09 (-0.42%) today. Closing below Thursday's low at 21.33, the share confirms its breakout through the prior session's low having traded A$0.15 below it intraday.
Friday's trading range was A$0.21 (0.98%), that's below last trading month's daily average range of A$0.28. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
After spiking up to 21.39 during the day, the market found resistance at the 50-day moving average at 21.39.
News Corp shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The stock broke below the 100-day moving average at 21.27 today for the first time since June 29th.
While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.