Is the bullish run coming to an end? News Corp closed at $17.27 (-0.29%)

Though in the midst of a 12 day uptrend, gaining a total of 9.1%, ($1.49), The prevailing bullish trend is beginning to fade following Thursday's downbeat session. The media giant has recovered almost all of its session losses after dipping down to $17.12 Thursday.

News Corp could begin to recover as it approaches significant support, now 13 cents away from $17.14. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, News Corp peaked above its 200 day Simple Moving Average around $17.35 — typically an early indicator of a new bullish trend beginning to emerge.

Despite suffering losses in today's session, technical analysis is indicating that News Corp will undergo a significant bounce in the immediate term.

On the other hand, positive performances could be seen by looking at other communication services stocks as Alphabet traded at $108.9 after closing Thursday's trading day at $104.95 (up 3.76%). Meta Platforms was up 2.18%.

The mass media and publishing company is now trading 9.41% below its 3-month high of $21.87.