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Watch for Continued Gains in Shares of News Corp (NWS)

Published on Fri, 05/03/2013 - 14:43
By Robert Cotter

News Corp (NASDAQ:NWS) traded at a new 52-week high today of $32.57. So far today approximately 5.8 million shares have been exchanged, as compared to an average 30-day volume of 2.6 million shares.

Based on a current price of $32.23, News Corp is currently 4.4% above its average consensus analyst price target of $30.80. The stock should discover initial support at its 50-day moving average (MA) of $30.66 and subsequent support at its 200-day MA of $26.60.

In the past 52 weeks, shares of News Corp have traded between a low of $18.52 and a high of $32.57 and are now at $32.23, which is 74% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.7%.

News Corporation is a diversified global media company. The Company's operations include the production and distribution of motion pictures and television programming. The Company provides television, direct satellite, and cable broadcasting and the publication of newspapers, magazines, books and promotional inserts.

By Robert Cotter
rcotter@fnno.com