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Possible Bearish Inside Day Candle Pattern Detected for Twenty-First C-A (NASDAQ:FOXA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Twenty-First C-A (NASDAQ:FOXA) based on the price action in the company's shares. Today's price range of $33.65 and $33.81 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 Twenty-First C-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 21.2% for shares of Twenty-First C-A based on a current price of $33.65 and an average consensus analyst price target of $40.77. The stock should find initial resistance at its 50-day moving average (MA) of $35.96 and further resistance at its 200-day MA of $42.45.

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.

Over the past year, Twenty-First C-A has traded in a range of $32.74 to $51.99 and is now at $33.65, 3% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Twenty-First C-A on March 19th, 2019 by issuing a Downtrend alert when the shares were trading at $40.77. Since that call, shares of Twenty-First C-A have fallen 16.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle twenty-first c-a

Ticker(s): FOXA