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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in News Corp-Cl A (NASDAQ:NWSA) based on the price action in the company's shares. Yesterday's price range of $13.80 and $13.98 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 A 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 Corp-Cl A share prices have moved between a 52-week high of $15.07 and a 52-week low of $11.22 and closed yesterday at 25% above that low price at $14.02 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 A (NASDAQ:NWSA) has potential upside of 23.7% based on a current price of $14.02 and analysts' consensus price target of $17.34. The stock should find initial support at its 50-day moving average (MA) of $13.92 and further support at its 200-day MA of $13.32.

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.

SmarTrend is tracking the current trend status for News Corp-Cl A and will alert subscribers who have NWSA in their portfolio or watchlist when shares have changed trend direction.

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

Ticker(s): NWSA