Today, shares of News Corp (NASDAQ:NWS) have fallen below their 10-day MA of $17.46 on a volume of 1.5 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
News Corp share prices have moved between a 52-week high of $19.08 and a 52-week low of $13.83 and are now trading 25% above that low price at $17.22 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.
Potential upside of 18.6% exists for News Corp, based on a current level of $17.22 and analysts' average consensus price target of $20.43. The stock should hit resistance at its 200-day moving average (MA) of $17.37, as well as support at its 50-day MA of $16.72.
News Corporation is a diversified global media company. The Company's operations include the production and distribution of motion pictures and television programming. The Company provides television, direct satellite, and cable broadcasting and the publication of newspapers, magazines, books and promotional inserts.
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