Abatix

NWSA Bull Flag Failure or Fake Out?

Long
NASDAQ:NWSA   News Corporation
I have a position in NWSA for a Continuation to the upside. Recently, we lossed the 50MA, and the BB:20MA. With the recent activity in SPY and QQQ , I'm speculating that this was a stock that was over sold. You can see the price action extending far outside 2 standard deviations of the Bollinger Bands . I believe that this chart is still looking healthy, although a possible head and shoulders may appear to be forming. I have a tight stop loss.
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