Yesterday at a glance: the media giant hovered around the $16 level after closing Thursday at $16.29 and shedding 1.72%, as it reached reached yesterday's session close.

Data from United States concerning Unemployment Rate was released yesterday at 13:30 UTC. Newly published figures emphasized continued decline from last month's figure of 3.4 to 3.6 this month.

This down-slide takes place despite the positive US macroeconomics indicators data that was published earlier — United States Non Farm Payrolls beat the 205,000 projections, with 311,000.

Meanwhile, United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 107,100, while the previous figure was 128,800.

Technical analysis of News Corp's past price action reveals multiple support and resistance levels: although News Corp is pointing down today (was as low as $15.74), it's climbing away from the $15.76 support line and is now 25 cents above it. Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to momentum evaluation, the Relative Strength Index indicates News Corp is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $15.6, a low enough level to, generally, suggest that News Corp is trading below its fair value.

Overall, the technical outlook suggests News Corp is likely to remain muted for the immediate future, with no clear-cut direction.

News Corp was not the only decliner in the communication services sector; Alphabet lost 1.78% yesterday and closed at $91. Meta Platforms went down to $179.51, losing 1.2% after it closed at $181.69 yesterday. Netflix closed at $292.76 (down 1.69%).

Trending downwards for around a month. So far this year, the media giant has declined 12.33% while touching highs around $22.96 earlier this year.