News Corporation Stock Forecast
News Corporation stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The News Corporation stock price fell by -0.418% on the last day (Thursday, 28th Mar 2024) from $26.29 to $26.18. During the last trading day the stock fluctuated 1.36% from a day low at $26.17 to a day high of $26.53. The price has risen in 6 of the last 10 days and is up by 0.34% over the past 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $89.67 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.28% during the next 3 months and, with a 90% probability hold a price between $28.23 and $30.58 at the end of this 3-month period.
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NWSA Signals & Forecast
The News Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $26.08 and $26.14. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, February 29, 2024, and so far it has fallen -2.60%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for News Corporation stock
News Corporation finds support from accumulated volume at $25.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.355 between high and low, or 1.36%. For the last week the stock has had daily average volatility of 1.33%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NWSA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect News Corporation to open at $26.29, and during the day (based on 14 day Average True Range), to move between $25.74 and $26.62, which gives a possible trading interval of +/-$0.445 (+/-1.70%) up or down from last closing price. If News Corporation takes out the full calculated possible swing range there will be an estimated 3.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.33 (0.57%) than the support at $25.84 (1.30%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is News Corporation stock A Buy?
The News Corporation stock holds several negative signals and despite the positive trend, we believe News Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.073 Sell Candidate Downgraded
Predicted Opening Price for News Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$26.29 ( 0.427%) | $26.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NWSA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.65 | 1.78 % | |
R2 | 26.51 | 1.26 % | ||
R1 | 26.43 | 0.94 % | ||
Current price: | 26.18 | |||
Support | S1 | 26.16 | -0.0915 % | |
S2 | 26.07 | -0.411 % | ||
S3 | 25.94 | -0.93 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.88 | 2.67 % | |
R2 | 26.48 | 1.15 % | ||
R1 | 26.33 | 0.573 % | ||
Current price | 26.18 | |||
Support | S1 | 25.84 | -1.30% | |
S2 | 25.51 | -2.56% | ||
S3 | 24.64 | -5.88% |
NWSA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 12, 2024 | Mar 12, 2024 | Apr 10, 2024 | $0.100 | 0.382% |
2 | Aug 10, 2023 | Sep 12, 2023 | Oct 11, 2023 | $0.100 | 0.478% |
3 | Feb 09, 2023 | Mar 14, 2023 | Apr 12, 2023 | $0.100 | 0.578% |
4 | Aug 08, 2022 | Sep 13, 2022 | Oct 12, 2022 | $0.100 | 0.644% |
5 | Feb 03, 2022 | Mar 15, 2022 | Apr 13, 2022 | $0.100 | 0.462% |
FAQ
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