The Falling Wedge is just one piece of the puzzle. See the full technical breakdown.
Reversal pattern. Price likely to break upwards.
Expanding volatility. Sign of instability.
Reversal pattern after a downtrend.
Technical analysis of Fox Corporation (Class A) (FOXA) reveals a significant setup. The stock is trading at $52.23, up 1.77% on the day. Price action has carved out a classic Double Bottom. Buying pressure is strong relative to the 20-day average. A potential breakout level is identified at $69.18, targeting $87.67 with support near $59.93 (R:R 2.0).
What is your outlook on FOXA?