A clean Rectangle often precedes a big move. Validate your entry.
Sideways movement between parallel supports.
Bearish continuation pattern.
Technical analysis of News Corp (Class B) (NWS) reveals a significant setup. Currently at $28.75, the asset is showing downward momentum (-2.87%). The primary technical feature is a Descending Triangle formation. Volume is strong (5.01x avg) with moderate trend strength (17.0). A potential breakout level is identified at $28.44, targeting $24.96 with support near $31.49 (R:R 1.14).
What is your outlook on NWS?