FOX trade ideas
FOX slowstoch is coming out the 20 zone.FOX slowstoch is coming out the 20 zone.
Title touched a support at 35.32 for two consecutive days and slowstochastic crossing above 20 could be a good signal of reversing.
Stock strenght is above 65.
Watch the stock and lets see on lower timeframes if there is a entry signal.
Disclaimer:
This is just my tought: don't invest based on this idea.
FOXA - Short to Medium Term Price ForecastWatching to go long if prices break and hold above 36.66 with supporting volume. The first target is at around 37.21, second and third target at 37.81 and 38.25. First stop loss at around 38.85, you can adjust your stop loss as the price progress to the upside. Good luck
Potential next movement for Twenty-first Century Fox (FOXA)At the moment there are two possibilities for FOXA :
1) Breakout up : We can break the downwards short term trendline and the green 50-day SMA, after that we will break out of the consolidation range and find resistance at the red lines.
2) Breakout down : We can break the support area of the consolidation range and the orange 100-day SMA, after that we will find support on the green lines and the 200-day SMA.
I think a break upwards would make more sense because both the RSI and the WT-indicator are pretty low and have much room to grow. But in the current state of the market anything can happen. I'll wait for a breakout and then go long or short.
Clear bounce off of support A clear floor has been set at $26.50 price level. Lately plenty of bears have been driving down this price due to a larger marker selloff but that being said I could see a strong reversal to the $28.00 or a break in bottom to a $24 price. Keep an eye out in tomorrow trading session to see if there is any significant action and play accordingly. My best guess is that this price recovers, there just isn't enough reason for this price to go lower at this point. The majority of the risk here is the broad investing environment and if that rebonds at all I would put my money on FOX outpacing it.