FOXA's Uptrend: Riding Downtrend BreaksFox Corporation (FOXA) has impressively rebounded twice from the 88.6% Fibonacci support, displaying resilience. Notably, it consistently breaches downtrend trendlines. Seizing this buying chance, we remain vigilant, especially focusing on the Fibonacci support.
FOXA
ROKU Reverse H & S setup LongROKU trended up paradoxically from less than a fairly weak earnings report about November 1
'23 and then reversed into a trend down into the support of the 0.382 and 0.5 Fib levels in a
retracement. Price is now forming a head and shoulders pattern having found that support.
It is above the POC line on the evolving POC and high volume area. Based on the latter,
I believe that it now has room for the upside to $104 for about 18% potential. With a stop at
$84 below the POC line, I see this as a safe play in the areas of technology and multi-media
at a lower price than NFLX and Disney.
FOXAA good opportunity to long position and get a good profit from the attractive American stock market
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FOXA Long Resault: 20.65% Profit✅good opportunity to long position and get a good profit from the attractive American stock market
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According to my risk and capital management system, the risk of each trade is one percent per position.
What do you think about this analysis and other analyses?
What symbol would you like me to analyze for you?
FOXA smashed through using our B.I.T.S Breakout IndicatorQuick video recap of mega long breakout trade on FOXA using our B.I.T.S Breakout Intelligent Breakout Signals Indicator for TradingView.
Original trade idea here on Tradingview can be viewed >>HERE<<
Our B.I.T.S indicator is perfect for instruments that have volume and price action, so Stocks, Futures, Commodities and cryptocurrency
FOXA potential Long Breakout Trade using our B.I.T.S IndicatorWe have identified a potential long breakout swing trading opportunity on FOXA using our Breakout Intelligent Trading Signals Indicator (B.I.T.S).
The indicator using price action and volume with proximity to our Points of control to identify high probability breakout trades both long and short.
In this situation we are looking to go long through our automated entry signal at $32.65 with a tight Stop Loss at $32.29 (again automatic on our indicator) We have 4 automatic target zones printed on the chart with the 4th just below the recent major resistance pivot.
Find out more about our B.I.T.S indicator for TradingView that s i great for spotting breakouts on Stocks Commodities, Futures and Cryptocurrencies >>HERE<<
Potential next movement for Twenty-first Century Fox (FOXA)At the moment there are two possibilities for FOXA :
1) Breakout up : We can break the downwards short term trendline and the green 50-day SMA, after that we will break out of the consolidation range and find resistance at the red lines.
2) Breakout down : We can break the support area of the consolidation range and the orange 100-day SMA, after that we will find support on the green lines and the 200-day SMA.
I think a break upwards would make more sense because both the RSI and the WT-indicator are pretty low and have much room to grow. But in the current state of the market anything can happen. I'll wait for a breakout and then go long or short.