Uncovering Noteworthy Technical Analysis Findings for FOX CORP - CLASS B (NASDAQ:FOX).

Our stock screener has detected a potential breakout setup on FOX CORP - CLASS B (NASDAQ:FOX). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NASDAQ:FOX.

Analyzing the Technical Aspects

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Overall FOX gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, FOX is only an average performer.

• The long and short term trends are both positive. This is looking good!
• FOX is part of the Media industry. There are 94 other stocks in this industry. FOX outperforms 83% of them.
• FOX is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so FOX is lagging the market slightly.
• In the last month FOX has a been trading in the 30.51 - 32.53 range, which is quite wide. It is currently trading near the high of this range.
• When comparing the yearly performance of all stocks, we notice that FOX is one of the better performing stocks in the market, outperforming 74% of all stocks. However, this relatively good performance is mostly due to a recent big move.

Our latest full technical report of FOX contains the most current technical analsysis.

How does the Setup look for NASDAQ:FOX

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:FOX scores a 9 out of 10:

FOX has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 32.17. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 32.10, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NASDAQ:FOX

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Of course, there are many ways to trade or not trade NASDAQ:FOX and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.