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Downtrend ResistanceArchive
- 4/5/2024 -
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NEWS CORP LTD (NWS) Technical Analysis
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| Summary:
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| | It was the negative week for the NEWS CORP LTD (NWS). During the week, the NWS dropped -0.60 points, or -2.22%, and closed at 26.46 on Friday, April 5, 2024. Weekly volume was -28% below average.
 Long-term trend: [See NWS long-term trend chart]
A long-term uptrend had started on March 13, 2023 at 15.73 and reached 28.92 on February 8, 2024. NWS gained -13.19 points, or -83.85%, in 47 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 24.45 and resistance is at 28.60. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See NWS medium-term trend chart]
A medium-term uptrend had started on October 4, 2023 at 20.01 and reached 28.92 on February 8, 2024. NWS gained -8.91 points, or -44.53%, in 18 weeks. The price is now at the 27.61% retracement level.
 Weekly Technical Indicators: [See NWS weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See NWS short-term trend chart]
A short-term downtrend had started on February 8, 2024 at 28.92 and reached 26.10 on April 3, 2024. NWS lost 2.82 points, or 9.75%, in 55 days. The price is now at the 12.77% retracement level.
 Daily Technical Indicators: [See NWS daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish 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 link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since February 29, 2024. This is an indication that the short-term trend is down.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below 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.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support 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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