• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for News Corp-Cl A (NASDAQ:NWSA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in News Corp-Cl A (NASDAQ:NWSA) based on the price action in the company's shares. Yesterday's price range of $14.29 and $14.41 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of News Corp-Cl A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, News Corp-Cl A has traded in a range of $11.22 to $15.07 and closed yesterday at $14.40, 28% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

News Corporation is a media and information services company. The Company's business is comprised of news and information, book publishing, digital real estate, and cable network programming services. News serves customers globally.

News Corp-Cl A has overhead space with shares priced $14.40, or 17.0% below the average consensus analyst price target of $17.34. The stock should find initial support at its 50-day moving average (MA) of $13.98 and further support at its 200-day MA of $13.34.

SmarTrend is tracking the current trend status for News Corp-Cl A and will alert subscribers who have NWSA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle news corp-cl a

Ticker(s): NWSA