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Exploring NEWS CORP - CLASS A's Technical Signals and Breakout Potential.

By Mill Chart

Last update: Nov 3, 2023

Our stock screener has identified NEWS CORP - CLASS A (NASDAQ:NWSA) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NASDAQ:NWSA.

NWSA Daily chart on 2023-11-03

Deciphering the Technical Picture of NASDAQ:NWSA

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

Overall NWSA gets a technical rating of 7 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, NWSA is showing a nice and steady performance.

  • 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.
  • When comparing the yearly performance of all stocks, we notice that NWSA is one of the better performing stocks in the market, outperforming 91% of all stocks.
  • NWSA is one of the better performing stocks in the Media industry, it outperforms 93% of 97 stocks in the same industry.
  • NWSA is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so NWSA slightly outperforms the market at the moment.
  • In the last month NWSA has a been trading in the 19.64 - 22.32 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

For an up to date full technical analysis you can check the technical report of NWSA

How do we evaluate the setup for NASDAQ:NWSA?

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:NWSA is 8:

NWSA 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 21.28. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 21.17, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How can NASDAQ:NWSA be traded?

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Of course, there are many ways to trade or not trade NASDAQ:NWSA and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

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

Keep in mind

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.

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NEWS CORP - CLASS A

NASDAQ:NWSA (2/21/2024, 7:00:02 PM)

After market: 26.08 0 (0%)

26.08

-0.17 (-0.65%)

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