|
|
Law Firm Search Engine
|
|
|
Share Trading Tip 21 February 2012
by Michael Gable - Private Client Adviser at Novus Capital
News Corporation (NWS) – Last $18.90
Daily Chart
After trading under $14 last year as the phone tapping scandal become public, we have seen a gradual increase in the NWS share price. On the weekly chart above, we can see a number of factors that are telling me that the current trend is about to end, and that the share price will most likely consolidate. Firstly we can see that the volume on the way up has been decreasing. That is, there aren’t too many people overly bullish on this stock. Secondly, momentum is starting to fade and we can see the RSI move out of overbought territory and head back down. Thirdly, a triple top is starting to form. Like the Dow Jones, we are now starting to see the trend getting overbalanced. I have levels back down towards $17 during the next several weeks. From there we will have to assess whether that is a buying opportunity or not.
Michael Gable is a Private Client Adviser with Novus Capital and provides individuals with advice on portfolio management and share trading.
DISCLAIMER:
Unless specifically stated within this document, any information communicated constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter. Novus believes that any information or advice (including any financial product recommendation) contained in this document is accurate when issued but do not warrant its accuracy or reliability. Novus is not obliged to provide you with updated information or advice if circumstances change. Novus, Legal Practice Intelligence, their directors, officers, associates and employees exclude to the full extent permitted by law, all liability of any kind whether in negligence, contract, under a fiduciary duty or otherwise, for any loss or damage, whether direct, indirect, consequential or otherwise, whether foreseeable or not, arising from or in connection with this document.
 |
|
.png)
.png)
