NWS.AX breaks below previous session low


News Corp Class B Voting Common Stock-Cdi (NWS.AX) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
NWS.AX breaks below 100-day moving average
NWS.AX fails to close above 50-day moving average
NWS.AX closes lower for the 2nd day in a row
NWS.AX breaks below previous session low
TQ Sentiment
Report Sentiment: 75% Bearish
Technical Forecast:
Overview

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.

Daily chart for NWS.AX
Volatility

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.

Support/Resistance

After spiking up to 21.39 during the day, the market found resistance at the 50-day moving average at 21.39.

Trend

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.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for News Corp Class B Voting Common Stock-Cdi
ConditionForecastDirectionWinAvgWorstBestEvents
Black Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bearish Short Candle TQ Pro Members Only
Decisive Down Move TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
More market conditions identified for TQ Pro members...
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