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

By Nick Russo

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 $11.76 and $11.79 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.

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 (NASDAQ:NWSA) has potential upside of 47.5% based on a current price of $11.76 and analysts' consensus price target of $17.34. The stock should run into initial resistance at its 50-day moving average (MA) of $12.28 and subsequent resistance at its 200-day MA of $12.71.

In the past 52 weeks, News Corp-Cl A share prices have been bracketed by a low of $10.65 and a high of $16.35 and closed yesterday at $11.76, 10% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.6%.

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