A clear floor has been set at $26.50 price level. Lately plenty of bears have been driving down this price due to a larger marker selloff but that being said I could see a strong reversal to the $28.00 or a break in bottom to a $24 price. Keep an eye out in tomorrow trading session to see if there is any significant action and play accordingly. My best guess is...
The reasons it's likely to go down at this moment:
-SMA: a top below the line and a reversal setup is forming.
-S/R: against resistance.
-RSI+BB: just jumped below the 50 line, and a lot of room to go down.
-MACD: crossing, meaning it's likely to go down.
FOX 1 daily chart, being of April ended an bullish Elliot Impulse Wave (12345). Starting this month stock has lost $2.00 a share, related to negative news related to Bill O'Reilly firing. I believe bears will be in control of FOX stock until June, then recheck at that time situation.
SUPPORT areas: First noted support area is S1 $29.35, S2 $28.50 & S3 $ 27.08. ...
this strategy is based on trends, william %R and WT -LB (10, 21, 60.). After sharp increase in the first part of the semester to approximately 30,99, the shares ploughed. this shows a steady pattern movement of the shares therefore i am expecting an increase around 30,20 per shares in the coming semester. NASDAQ:FOX
