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Downtrend Broken Resist.Archive
- 7/19/2024 -
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FOX ENTMT GROUP (FOX) Technical Analysis
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| Summary:
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| | It was a third consecutive positive week for the FOX ENTMT GROUP (FOX). During the week, the FOX gained 0.98 points, or 2.94%, and closed at 34.33 on Friday, July 19, 2024. Weekly volume was -41% below 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 25.82 on March 6, 2024. FOX lost 15.09 points, or 36.89%, in 107 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (25.67) 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. FOX 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 long-term trend.
 Medium-term trend: [See FOX medium-term trend chart]
A medium-term uptrend had started on March 6, 2024 at 25.82 and reached 35.36 on July 18, 2024. FOX gained -9.54 points, or -36.95%, in 19 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (34.41). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See FOX weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since March 22, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See FOX short-term trend chart]
A short-term uptrend had started on July 8, 2024 at 32.02 and reached 35.36 on July 18, 2024. FOX gained -3.34 points, or -10.43%, in 10 days. The price is now at the 30.84% retracement level.
 Daily Technical Indicators: [See FOX daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since July 8, 2024. This is an indication that the short-term trend is up.
A Parabolic SAR (stop and reversal) indicator (34.2) comes close to the price (34.33). It indicates that the trend is getting weaker. 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.
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