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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. Today's price range of $13.39 and $13.50 is within yesterday'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 Corp-Cl A (NASDAQ:NWSA) has potential upside of 28.5% based on a current price of $13.50 and analysts' consensus price target of $17.34. News Corp-Cl A shares have support at the 200-day moving average (MA) of $12.53 and additional support at the 50-day MA of $12.04.

In the past 52 weeks, shares of News Corp-Cl A have traded between a low of $10.65 and a high of $16.11 and are now at $13.50, which is 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

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.

SmarTrend is monitoring the recent change of momentum in News Corp-Cl A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of News Corp-Cl A in search of a potential trend change.

Keywords: bearish inside day candle news corp-cl a

Ticker(s): NWSA