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Possible Bullish Inside Day Candle Pattern Detected for News Corp-Cl B (NASDAQ:NWS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in News Corp-Cl B (NASDAQ:NWS) based on the price action in the company's shares. Yesterday's price range of $14.13 and $14.35 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. Traders and investors interested in shares of News Corp-Cl B may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

News Corp-Cl B share prices have moved between a 52-week high of $15.36 and a 52-week low of $11.38 and closed yesterday at 26% above that low price at $14.35 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.4%.

News Corp-Cl B has overhead space with shares priced $14.35, or 4.3% below the average consensus analyst price target of $15.00. News Corp-Cl B shares have support at the 50-day moving average (MA) of $14.27 and additional support at the 200-day MA of $13.64.

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

Keywords: bullish am inside day candle news corp-cl b

Ticker(s): NWS