News Corp (NWSA) Rockets Out of Double Bottom

23 set

1. Double Bottom Breakout

News Corporation has recently broken out of a Double Bottom pattern.
This bullish reversal pattern suggests upside momentum after consolidating at lower levels.

2. 200D SMA Test and Reversal

The stock tested the 200-Day Simple Moving Average (SMA) and reversed from it.
This shows the long-term resistance was challenged, and the bounce indicates strength.

3. Strong Support Zone

Price action highlights that NWS took support from the strong support zone in the range of (28.32–28.7).
This zone has acted as a solid base for buyers, reinforcing the bullish setup.

4. Price Target

Based on the pattern breakout and support confirmation, the next upside target stands at 31.10.

5. Technical Confluence

Breakout from a major bullish reversal (Double Bottom).
Reversal after testing the 200D SMA.
Strong support zone held firmly at 28.32–28.7.

All signals indicate continuation of bullish momentum.

14 ott

Trade chiuso: obiettivo raggiunto

Target is hit