#NWSA#
News Corporation (Ticker: NWSA), a diversified media and information services entity, has exhibited mixed signals in recent financial reports. Here's an encapsulated analysis touching upon its financial performance alongside technical indicators as of recent data:
Financial Performance:
Q4 FY 2023:
Revenue: Reported at $2.43 billion, marking a 9% dip compared to $2.67 billion in the same quarter last fiscal year. The decline accounts for a $110 million (4%) benefit from an additional week in the prior year quarter and a $72 million (3%) hit from foreign currency fluctuations.
Q3 FY 2023:
The company unveiled its financials for the quarter ending March 31, 2023, although specifics weren’t detailed in the snippet.
Q2 FY 2023:
Revenue: Stood at $2.52 billion, a 7% slide compared to $2.72 billion YoY.
Technical Analysis:
On the daily chart, the stock is currently navigating through a corrective wave zone. Short-term upward momentum seems to have topped with the peak of corrective wave B at around $22.62, post which a C wave correction is anticipated. The MACD indicator clearly underscores this, showing the upward momentum is waning, and a bearish crossover is on the horizon. The RSI indicator displayed overbought signals post the price touching above $23.
Advisory:
Combining both fundamental and technical analysis, the advisory leans towards a wait-and-watch stance currently. The suggestion is to eye for a price retrace to $20, followed by a rebound surpassing the previous 5th impulse wave, i.e., $23, before considering entry.
Financial Performance:
Q4 FY 2023:
Revenue: Reported at $2.43 billion, marking a 9% dip compared to $2.67 billion in the same quarter last fiscal year. The decline accounts for a $110 million (4%) benefit from an additional week in the prior year quarter and a $72 million (3%) hit from foreign currency fluctuations.
Q3 FY 2023:
The company unveiled its financials for the quarter ending March 31, 2023, although specifics weren’t detailed in the snippet.
Q2 FY 2023:
Revenue: Stood at $2.52 billion, a 7% slide compared to $2.72 billion YoY.
Technical Analysis:
On the daily chart, the stock is currently navigating through a corrective wave zone. Short-term upward momentum seems to have topped with the peak of corrective wave B at around $22.62, post which a C wave correction is anticipated. The MACD indicator clearly underscores this, showing the upward momentum is waning, and a bearish crossover is on the horizon. The RSI indicator displayed overbought signals post the price touching above $23.
Advisory:
Combining both fundamental and technical analysis, the advisory leans towards a wait-and-watch stance currently. The suggestion is to eye for a price retrace to $20, followed by a rebound surpassing the previous 5th impulse wave, i.e., $23, before considering entry.
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