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Downtrend Broken Resist.Archive
- 5/10/2024 -
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FOX ENTMT GROUP (FOX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the FOX ENTMT GROUP (FOX). During the week, the FOX gained 1.36 points, or 4.60%, and closed at 30.94 on Friday, May 10, 2024. Weekly volume was -12% below average.
 Long-term trend: [See FOX long-term trend chart]
A long-term downtrend had started on February 7, 2024 at 30.50 and reached 25.82 on March 6, 2024. FOX lost 4.68 points, or 15.34%, in 4 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (29.02) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. FOX may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See FOX medium-term trend chart]
A medium-term uptrend had started on March 6, 2024 at 25.82 and reached 31.44 on May 9, 2024. FOX gained -5.62 points, or -21.77%, in 9 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 31.19 and resistance is at 30.80. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See FOX weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since March 22, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See FOX short-term trend chart]
A short-term uptrend had started on April 12, 2024 at 27.63 and reached 31.44 on May 9, 2024. FOX gained -3.81 points, or -13.79%, in 27 days. The price is now at the 13.12% retracement level.
 Daily Technical Indicators: [See FOX daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is above its signal line since April 19, 2024. This is an indication that the short-term trend is up.
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