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

By Nick Russo

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 $37.85 and $37.85 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.

Potential upside of 7.7% exists for Twenty-First C-A, based on a current level of $37.85 and analysts' average consensus price target of $40.77. Twenty-First C-A shares should first meet resistance at the 50-day moving average (MA) of $41.27 and find additional resistance at the 200-day MA of $45.71.

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.

In the past 52 weeks, Twenty-First C-A share prices have been bracketed by a low of $35.99 and a high of $51.99 and are now at $37.85, 5% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.5% while the 200-day MA has slid 0.4%.

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 5.6%. 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