- 5/26/2023 -
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FOX ENTMT GROUP (FOX)
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|It was a second positive week after 3 consecutive negative weeks for the FOX ENTMT GROUP (FOX). During the week, the FOX gained 0.33 points, or 1.14%, and closed at 29.25 on Friday, May 26, 2023. Weekly volume was 58% above average. |
FOX is a member of Communication Services Sector. Communication Services is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See FOX long-term trend chart]
A long-term downtrend had started on February 10, 2022 at 40.91 and reached 26.35 on November 9, 2022. FOX lost 14.56 points, or 35.59%, in 38 weeks. The price is now at the 19.92% retracement level.
Medium-term trend: [See FOX medium-term trend chart]
A medium-term downtrend had started on February 16, 2023 at 34.42 and reached 27.79 on May 11, 2023. FOX lost 6.63 points, or 19.26%, in 12 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 27.30 and resistance is at 29.52. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See FOX weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is below its signal line since April 21, 2023. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See FOX short-term trend chart]
A short-term downtrend had started on April 12, 2023 at 31.79 and reached 27.79 on May 11, 2023. FOX lost 4.00 points, or 12.58%, in 29 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See FOX daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since May 18, 2023. The distance between MACD and the signal line is low, but getting bigger.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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.