NWS.AX breaks below previous session low

News Corp Class B Voting Common Stock-Cdi (NWS.AX) Technical Analysis Report for Jul 13, 2018

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:
TQ Pro Only
See the overall Technical Analysis forecast for today.

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

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