The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

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- 2/16/2024 -
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21st Century Fox (FOXA) Technical Analysis

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Summary:
Weekly :Overbought sectorPrice is near the Fibonacci 23.6% retracement level
Daily :Stochastic signal line moved above oversold areaA Parabolic SAR indicator is below and near the pricePrice is close to the 50 Day Moving Average
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It was a first positive week for the 21st Century Fox (FOXA). During the week, the FOXA gained 0.67 points, or 2.25%, and closed at 30.44 on Friday, February 16, 2024. FOXA was trading at average weekly trading volume.

FOXA is a member of Communication Services Sector. Communication Services is the second 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 FOXA long-term trend chart]
A long-term downtrend had started on February 17, 2023 at 37.26 and reached 28.51 on February 8, 2024. FOXA lost 8.75 points, or 23.48%, in 50 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See FOXA medium-term trend chart]
A medium-term downtrend had started on August 9, 2023 at 35.40 and reached 28.51 on February 8, 2024. FOXA lost 6.89 points, or 19.46%, in 26 weeks. The price is now at the 28.01% retracement level.

Weekly Technical Indicators: [See FOXA weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since January 5, 2024. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See FOXA short-term trend chart]
A short-term downtrend had started on February 7, 2024 at 32.96 and reached 28.51 on February 8, 2024. FOXA lost 4.45 points, or 13.50%, in 1 days. The chart has formed a Symmetric Triangle chart pattern.

Daily Technical Indicators: [See FOXA daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 link to access Lane's Stochastic help.

The daily MACD line is below its signal line since February 2, 2024. This is an indication that the short-term trend is down.

A Parabolic SAR (stop and reversal) indicator (30.64) comes close to the price (30.44). 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.

Price is close to the 50 Day Moving Average. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.45
Williams' Percentage Range (W%R) 55.50
Lane's Stochastic (%D-Slow) 39.69
Greed/Fear Indicator (GFI) 40.54
Moving Average Converg./Diverg. (MACD) -0.04
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.19
Williams' Percentage Range (W%R) 55.50
Lane's Stochastic (%D-Slow) 68.37
Greed/Fear Indicator (GFI) 54.13
Moving Average Converg./Diverg. (MACD) -0.51
Trading Signals
Description Value Chart
Upper Bollinger Band 32.84
Weekly Stochastic Crossing 31.42
20 Day Moving Average 31.11
Parabolic System 30.64
50 Day Moving Average 30.48
Price 30.44
Daily Stochastic Crossing 30.24
Lower Bollinger Band 28.52
Sector and Industry
Description Name Rank
Sector Communication Services 8
Industry Movies & Entertainment 66
Daily Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
High 32.96
High Date 02/07/2024
Low 28.51
Low Date 02/08/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 35.40
High Date 08/09/2023
Low 28.51
Low Date 02/08/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 37.26
High Date 02/17/2023
Low 28.51
Low Date 02/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 44.95
High Date 02/10/2022
Low 28.01
Low Date 10/27/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 52.05
High Date 03/15/2019
Low 19.81
Low Date 03/23/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.