The media giant is trading close to the $15.79 level today, after ending Friday at $16 and dropping 1.37%.
Meanwhile, United States Participation Rate (Feb) released today at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.
With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to momentum evaluation, the Relative Strength Index indicates News Corp is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $15.55, a low enough level to, generally, suggest that News Corp is trading below its fair value. Chart analysis indicates News Corp could begin to recover as it approaches significant support, now 29 cents away from $15.5. Dipping below could be an indication that further losses are ahead.
Overall, the technical outlook suggests News Corp is likely to remain muted for the immediate future, with no clear-cut direction.
Positive performances can be seen by looking at other communication services stocks as Alphabet is up 1.63%. Meta Platforms gained 1.46%, currently at $182.13. T-Mobile is trading at $142.16 after ending Friday's session at $139.51 (up 1.9%).
Furthermore, United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Consumer Price Index figure is projected at 6%. It previously stood at 6.4%; data will be released tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.
On a negative trend for around a month. The current year has not been the best for the media giant as it lost 12.51% from its highest point of $22.96.