FOX CORP - CLASS A (NASDAQ:FOXA) - A Strong Technical Setup Worth Watching

FOX CORP - CLASS A (NASDAQ:FOXA) has emerged as a standout candidate for technical investors, displaying both strong momentum and a well-defined breakout pattern. The stock currently holds a perfect Technical Rating of 10 and a high Setup Quality score of 9, signaling a potential opportunity for traders. Below, we examine why FOXA meets the criteria for a technical breakout.

Technical Strength

• Trend Performance: FOXA is in a strong uptrend, with both short-term and long-term trends positive. The stock has outperformed 89% of the market over the past year, reflecting consistent upward momentum.
• Relative Strength: It ranks in the top 15% of its industry (Media), demonstrating leadership among peers.
• Moving Averages: The stock is trading above all key moving averages (20-day, 50-day, 100-day, and 200-day), confirming bullish sentiment.
• Volume & Liquidity: Average daily volume of ~3.94 million shares ensures healthy liquidity, reducing slippage risk for traders.

Setup Quality

• Consolidation Pattern: FOXA has been trading in a defined range ($52.96 - $56.56) recently, with volatility decreasing—a sign of potential breakout readiness.
• Support & Resistance: A clear resistance zone sits at $57.61-$58.01, while strong support lies at $54.83. A breakout above resistance could signal further upside.
• Pocket Pivot: The stock recently triggered a Pocket Pivot signal, indicating accumulation by institutional buyers.
• Risk Management: A stop-loss below $54.70 (just under support) offers a controlled risk of ~5.7% on the trade.

For a deeper look at the technicals, review the full technical analysis report for FOXA.

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Disclaimer

This is not investment advice. Always conduct your own analysis and consider risk tolerance before trading.