The question on everyone's mind: Will FOX CORP - CLASS A (NASDAQ:FOXA) breakout?

We've identified FOX CORP - CLASS A (NASDAQ:FOXA) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NASDAQ:FOXA for further developments.

Technical Analysis Observations

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Overall FOXA gets a technical rating of 8 out of 10. In the last year, FOXA was one of the better performers, but we do observe some doubts in the very recent evolution.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• Looking at the yearly performance, FOXA did better than 95% of all other stocks. On top of that, FOXA also shows a nice and consistent pattern of rising prices.
• FOXA is part of the Media industry. There are 91 other stocks in this industry. FOXA outperforms 94% of them.
• FOXA is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so FOXA slightly outperforms the market at the moment.

For an up to date full technical analysis you can check the technical report of FOXA

How does the Setup look for FOXA

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for FOXA is 7:

Although FOXA has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

How to trade FOXA?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

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.