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April 25, 2023
Yesterday at a glance: a tough start to the session saw price action reach a low of $17.09 before closing at $17.25.
News Corp made an initial break below its 50 day Simple Moving Average at $17.22, a possible indication of a forthcoming negative trend. In contrast, News Corp's upper Bollinger Band® is at $17.71 and the lower is $16.83. News Corp bounced after reaching the $17.1 support zone, climbing 15 cents above it.
According to technical indicators, News Corp is positioned for a downward move in the short term.
Meanwhile, mixed performances were seen by other communication services stocks as AT&T went down 3.79%, closed at $18.22. Comcast closed at $37.21 (down 1.4%). Alphabet was up 0.82%.
Data to be released today might clear up some of the market fog as as things stand, upcoming United States Core Durable Goods Orders data is projected to fall short of market expectations with newly published data of -0.2%, following on from the preceding figure of -0.1%. New data is set to be published tomorrow at 12:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -1.67 million. It previously stood at -4.58 million; data will be released tomorrow at 14:30 UTC. United States Building Permits scheduled to come out today at 13:30 UTC.
The stock has been trending positively for about a month. The mass media and publishing company has fallen back around 19.52% from the significant high of $21.47 set 2 months ago.
