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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. Yesterday's price range of $49.52 and $49.62 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 C-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Twenty-First C-A (NASDAQ:FOXA) defies analysts with a current price ($49.55) 17.7% above its average consensus price target of $40.77. The stock should discover initial support at its 50-day moving average (MA) of $48.78 and subsequent support at its 200-day MA of $45.56.

Over the past year, Twenty-First C-A has traded in a range of $34.12 to $50.15 and closed yesterday at $49.55, 45% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.4%.

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.

SmarTrend recommended that subscribers consider buying shares of Twenty-First C-A on November 8th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.75. Since that recommendation, shares of Twenty-First C-A have risen 4.0%. We continue to monitor FOXA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

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

Ticker(s): FOXA