News Corporation Stock Forecast
Evaluation of News Corporation stock downgraded after the last trading session.
(Updated on May 07, 2024)
The News Corporation stock price fell by -0.473% on the last day (Tuesday, 7th May 2024) from $25.37 to $25.25. During the last trading day the stock fluctuated 2.07% from a day low at $25.15 to a day high of $25.67. The price has risen in 5 of the last 10 days but is still down by -0.71% 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 -210 thousand shares and in total, 754 thousand shares were bought and sold for approximately $19.04 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.60% during the next 3 months and, with a 90% probability hold a price between $21.71 and $23.00 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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NWS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 2.89%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The News Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $25.77. On a fall, the stock will find some support from the short-term average at $24.96. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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
News Corporation finds support from accumulated volume at $24.95 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 $0.520 between high and low, or 2.07%. For the last week the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NWS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect News Corporation to open at $25.36, and during the day (based on 14 day Average True Range), to move between $24.80 and $25.70, which gives a possible trading interval of +/-$0.453 (+/-1.80%) up or down from last closing price. If News Corporation takes out the full calculated possible swing range there will be an estimated 3.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.95 (1.19%) than the resistance at $26.44 (4.71%), 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. 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 +/- 3.06% in the first trading day after earnings release.
Is News Corporation stock A Buy?
News Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Hold/Accumulate to a Sell candidate.
Current score: -2.420 Sell Candidate Downgraded
Predicted Opening Price for News Corporation of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $25.36 ( 0.422%) | $25.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NWS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.88 | 2.48 % | |
| R2 | 25.68 | 1.70 % | ||
| R1 | 25.56 | 1.21 % | ||
| Current price: | 25.25 | |||
| Support | S1 | 25.16 | -0.364 % | |
| S2 | 25.04 | -0.85 % | ||
| S3 | 24.84 | -1.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.21 | 7.76 % | |
| R2 | 27.01 | 6.97 % | ||
| R1 | 26.44 | 4.71 % | ||
| Current price | 25.25 | |||
| Support | S1 | 24.95 | -1.19% | |
| S2 | 24.78 | -1.86% | ||
| S3 | 24.54 | -2.81% |
NWS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 12, 2024 | Mar 12, 2024 | Apr 10, 2024 | $0.100 | 0.390% |
| 2 | Aug 10, 2023 | Sep 12, 2023 | Oct 11, 2023 | $0.100 | 0.461% |
| 3 | Feb 09, 2023 | Mar 14, 2023 | Apr 12, 2023 | $0.100 | 0.572% |
| 4 | Aug 08, 2022 | Sep 13, 2022 | Oct 12, 2022 | $0.100 | 0.631% |
| 5 | Feb 03, 2022 | Mar 15, 2022 | Apr 13, 2022 | $0.100 | 0.453% |
FAQ
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