| 
June 15, 2023
A quick look at today: pronounced bullish sentiment in the market helped the mass media and publishing company to make a notable 1.3% gain today, rising 25 cents and ultimately closing at $19.51.
News Corp's uptick comes amid good United States macroeconomic data released during the day — United States Retail Sales beat the -0.1% projections, with 0.3%.
News Corp's uptick comes amid disappointing United States macroeconomic data released during the session – United States Initial Jobless Claims came out at 262,000, marking no change from preceding figure.
At the same time, United States Philadelphia Fed Manufacturing Index (Jun) came out at -13.7, while a consensus of analysts was expecting -13.5.
News Corp made an initial breakout above its 5 day Simple Moving Average at $19.22, a potential indicator of a newly emerging bullish phase. In contrast, Bollinger Band® analysis indicates that current price action is approaching the upper band at $19.71, thereby suggesting that News Corp is becoming overvalued. News Corp could be slowing down soon; it is getting close to the resistance line and is now at $19.67, only 16 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Overall, looking at the technical analysis landscape, it seems News Corp likely to continue pointing upward in the short term.
A look at other communication services stocks also showed bullish price action as Meta Platforms was up 3.1%. Verizon added 2% to its value, and traded at $36.44. T-Mobile gained 3.68%, as it traded at $132.76.
The stock has been trending positively for about a month. The mass media and publishing company now trading 22.91% above its 3-month low of $14.95.
