News Corp closed at $18.76, continuing its bearish run

Over the last 5 days, News Corp has fallen 4.14%. Friday's session continued the recent downtrend: an influx of sellers pushed the mass media and publishing company to session lows around $18.59 while establishing a $18.59 to $18.89 session range Friday.

Although News Corp is down today and was as low as $18.59, it seems to be recovering slightly and climbing away from the $18.44 support line and is now 32 cents above it. News Corp's lower Bollinger Band® is at $18.32, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Technical analysis shows that News Corp (currently on a downtrend) might reverse course and start going up in the short term.

News Corp was not the only decliner in the communication services sector; Verizon went down to $35.51, losing 0.95% after it closed at $35.85 Friday.

On the other hand, positive performances could be seen by looking at other communication services stocks as Meta Platforms was up 1.35%.

In addition, United States Consumer Confidence is projected to outperform its last figure with 104, having previously been at 102.3. The figure will be published tomorrow at 14:00 UTC.

Furthermore, United States Building Permits is expected tomorrow at 12:00 UTC. United States New Home Sales (May) scheduled to come out tomorrow at 14:00 UTC.

The stock has been trending positively for about a month. The past 3 months have been positive for the mass media and publishing company as it added 15.58% compared to its 3-month low of $14.95.