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Possible Bearish Inside Day Candle Pattern Detected for Twenty-First - B (NASDAQ:FOX)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Twenty-First - B (NASDAQ:FOX) based on the price action in the company's shares. Yesterday's price range of $30.75 and $31.13 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 Twenty-First - B may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Twenty-First Century Fox, Inc. is a diversified media company. The Company's media and entertainment operations include the production and distribution motion pictures and television programming, music, radio broadcasting, and sports.

Twenty-First - B (NASDAQ:FOX) has potential upside of 38.7% based on a current price of $31.01 and analysts' consensus price target of $43.00. The stock should run into initial resistance at its 50-day moving average (MA) of $32.72 and subsequent resistance at its 200-day MA of $39.13.

Twenty-First - B share prices have moved between a 52-week high of $51.88 and a 52-week low of $29.61 and closed yesterday at 5% above that low price at $31.01 per share. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Twenty-First - B on March 19th, 2019 by issuing a Downtrend alert when the shares were trading at $40.23. Since that call, shares of Twenty-First - B have fallen 22.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle twenty-first - b

Ticker(s): FOX