News Corp currently down 1.45% halfway through today

While bearish sentiment is dominating the market, the media giant is maintaining its poise around $17.36 while ranging between $17.36 and $17.72 so far today.

Highly important Core Retail Sales data from United States beat analyst expectations of -0.3% with a reading of -0.8%. Highly important Retail Sales data from United States beat analyst expectations of -0.4% with a reading of -1%. Highly important Producer Price Index data from United States beat analyst expectations of 0.1% with a reading of -0.5%.

News Corp could begin to recover as it approaches significant support, now 1 cents away from $17.38. 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 50 day Simple Moving Average around $17.66 — 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.

In the meantime, negative performances are also seen in other communication services stocks as after closing the previous session (yesterday) at $346.19, Netflix lost $7.5 and is trading around $338.69. After closing the previous session (yesterday) at $19.96, AT&T lost 16.5 cents and is trading around $19.8. After closing the previous session (yesterday) at $38.05, Comcast lost 38.5 cents and is trading around $37.66.

The stock has been trending positively for about a month. The mass media and publishing company has shed 9.46% over the past three months.