Media companies have been getting the pants kicked off them lately, and NWS - News Corporation is at the top of an all time high on the charts, which may provide an incredible opportunity to capture a very sharp decline in the price.
Earnings will be released on Feb 7th (next week), and with price sitting at/near an all time high, if earnings are missed, it could present a very rare opportunity for short positions/short plays.
Good luck, and always use a stop.
Earnings will be released on Feb 7th (next week), and with price sitting at/near an all time high, if earnings are missed, it could present a very rare opportunity for short positions/short plays.
Good luck, and always use a stop.
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There's a bearish divergence on the 30 minute chart.
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There's also a bearish divergence on the 45 min chart.
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As well as the hourly chart.
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A closer view of the double top that's formed on the daily chart. It's no guarantee that NWS will miss earnings tomorrow, but the charts have various points that would seem to indicate a coming drop in price.