News Corporation Stock Forecast
Red day on Thursday for News Corporation
(Updated on Apr 18, 2024)
The News Corporation stock price fell by -0.497% on the last day (Thursday, 18th Apr 2024) from $24.15 to $24.03. During the last trading day the stock fluctuated 1.54% from a day low at $23.98 to a day high of $24.35. The price has fallen in 6 of the last 10 days and is down by -5.95% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -321 thousand shares and in total, 1 million shares were bought and sold for approximately $27.94 million.
Given the current horizontal trend, you can expect News Corporation stock with a 90% probability to be traded between $24.32 and $27.38 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NWSA Signals & Forecast
There are few to no technical positive signals at the moment. 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 $24.38 and $25.66. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 29, 2024, and so far it has fallen -10.60%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for News Corporation stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.370 between high and low, or 1.54%. For the last week, the stock has had daily average volatility of 1.63%.
News Corporation is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $22.43 (-6.66%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 17 which reduces the risk some. There is a sell signal from a pivot top found 34 days ago.)
Trading Expectations (NWSA) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect News Corporation to open at $24.12, and during the day (based on 14 day Average True Range), to move between $23.59 and $24.47, which gives a possible trading interval of +/-$0.440 (+/-1.83%) up or down from last closing price. If News Corporation takes out the full calculated possible swing range there will be an estimated 3.66% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $25.51, some $1.48 (6.16%) from the current price of $24.03, our system finds the risk reward not very attractive.
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: -0.511 Hold/Accumulate Unchanged
Predicted Opening Price for News Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $24.12 ( 0.375%) | $24.03 |
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 | 24.49 | 1.91 % | |
| R2 | 24.35 | 1.33 % | ||
| R1 | 24.26 | 0.96 % | ||
| Current price: | 24.03 | |||
| Support | S1 | 23.98 | -0.214 % | |
| S2 | 23.89 | -0.577 % | ||
| S3 | 23.75 | -1.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.33 | 9.57 % | |
| R2 | 25.84 | 7.53 % | ||
| R1 | 25.51 | 6.16 % | ||
| Current price | 24.03 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| 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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