Uncovering Noteworthy Technical Analysis Findings for NEWS CORP - CLASS B (NASDAQ:NWS).

A possible breakout setup was detected on NEWS CORP - CLASS B (NASDAQ:NWS) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NASDAQ:NWS.

Analyzing the Technical Aspects

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Taking everything into account, NWS scores 7 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• Looking at the yearly performance, NWS did better than 85% of all other stocks. On top of that, NWS also shows a nice and consistent pattern of rising prices.
• NWS is one of the better performing stocks in the Media industry, it outperforms 88% of 98 stocks in the same industry.
• NWS is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so NWS is performing more or less in line with the market.
• In the last month NWS has a been trading in the 20.85 - 22.79 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

How do we evaluate the setup for NASDAQ:NWS?

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NASDAQ:NWS this score is currently 9:

NWS has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 22.66. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 21.85, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for NWS in the last couple of days, which is a good sign.

Trading setups like NASDAQ:NWS

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

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 technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.