News Corporation Stock Forecast
Green day on Thursday for News Corporation
(Updated on May 02, 2024)
The News Corporation stock price gained 0.671% on the last trading day (Thursday, 2nd May 2024), rising from $23.84 to $24.00. During the last trading day the stock fluctuated 1.37% from a day low at $23.74 to a day high of $24.06. The price has been going up and down for this period, and there has been a -0.12% loss for the last 2 weeks. Volume fell on the last day by -149 thousand shares and in total, 3 million shares were bought and sold for approximately $64.60 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $23.74 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.06% during the next 3 months and, with a 90% probability hold a price between $22.06 and $23.69 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NWSA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 0.84%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The News Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $24.12 and $25.07. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for News Corporation stock
News Corporation finds support from accumulated volume at $23.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.325 (1.37%) between high and low. For the last week, the stock has had daily average volatility of 1.70%.
Our recommended stop-loss: $22.71 (-5.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (NWSA) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect News Corporation to open at $23.93, and during the day (based on 14 day Average True Range), to move between $23.58 and $24.42, which gives a possible trading interval of +/-$0.418 (+/-1.74%) up or down from last closing price. If News Corporation takes out the full calculated possible swing range there will be an estimated 3.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.84 (0.67%) than the resistance at $25.51 (6.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
News Corporation will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.130. We will update the financials statements for News Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.34% in the first trading day after earnings release.
Is News Corporation stock A Buy?
News Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.720 Hold/Accumulate Unchanged
Predicted Opening Price for News Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $23.93 ( 0.285%) | $24.00 |
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 | 24.26 | 1.07 % | |
| R2 | 24.13 | 0.552 % | ||
| R1 | 24.06 | 0.233 % | ||
| Current price: | 24.00 | |||
| Support | S1 | 23.81 | -0.80 % | |
| S2 | 23.73 | -1.12 % | ||
| S3 | 23.61 | -1.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.33 | 9.71 % | |
| R2 | 25.84 | 7.67 % | ||
| R1 | 25.51 | 6.29 % | ||
| Current price | 24.00 | |||
| Support | S1 | 23.84 | -0.667% | |
| S2 | 23.80 | -0.83% | ||
| S3 | 0 | . |
NWSA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 12, 2024 | Mar 12, 2024 | Apr 10, 2024 | $0.100 | 0.403% |
| 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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