News Image

FOX CORP - CLASS A (NASDAQ:FOXA) Reveals Intriguing Technical Aspects. Here's What You Need to Know.

By Mill Chart

Last update: Jul 9, 2024

Our stock screener has flagged FOX CORP - CLASS A (NASDAQ:FOXA) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NASDAQ:FOXA for potential movement.

FOXA Daily chart on 2024-07-09

Technical Analysis Observations

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Overall FOXA gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, FOXA is only an average performer.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • FOXA is one of the better performing stocks in the Media industry, it outperforms 80% of 94 stocks in the same industry.
  • FOXA is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so FOXA is lagging the market slightly.
  • In the last month FOXA has a been trading in the 32.76 - 34.88 range, which is quite wide. It is currently trading near the high of this range.
  • When comparing the yearly performance of all stocks, we notice that FOXA is one of the better performing stocks in the market, outperforming 73% of all stocks. However, this overall good ranking is mostly due to the recent strong move.

Check the latest full technical report of FOXA for a complete technical analysis.

How does the Setup look for NASDAQ:FOXA

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NASDAQ:FOXA is 9:

FOXA has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 34.55. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 34.44, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.