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Publishing Industry Stocks Technical Analysis - NWSArchive
- 5/10/2024 -
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NEWS CORP LTD (NWS) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third positive week after 3 consecutive negative weeks for the NEWS CORP LTD (NWS). During the week, the NWS gained 0.60 points, or 2.38%, and closed at 25.86 on Friday, May 10, 2024. It was the best weekly gain since February 9, 2024. Weekly volume was 16% above average.
 Long-term trend: [See NWS long-term trend chart]
A long-term uptrend had started on November 9, 2022 at 15.15 and reached 28.92 on February 8, 2024. NWS gained -13.77 points, or -90.89%, in 65 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Medium-term trend: [See NWS medium-term trend chart]
A medium-term downtrend had started on February 8, 2024 at 28.92 and reached 23.99 on May 9, 2024. NWS lost 4.93 points, or 17.05%, in 13 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (23.90) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. NWS may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See NWS weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since March 28, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
Short-term trend: [See NWS short-term trend chart]
A short-term uptrend had started on May 9, 2024 at 23.99 and reached 25.92 on May 10, 2024. NWS gained -1.93 points, or -8.05%, in 1 days. Price is near the trend high.
 Daily Technical Indicators: [See NWS daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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