🎯 Trade: Long (Buy)
📊 Timeframe: Daily (D1) / Swing Trade
💰 Entry: $55.05 (Pullback to support & value zone)
🛑 Stop Loss: $52.53 (Below recent swing low & SMA confluence)
🎯 Take Profit: $60.45 (Previous resistance & measured move target)
📉 Risk/Reward Ratio: 1 : 2.1
🔍 Technical Analysis
✅ Trend Structure:
Primary Trend: Bullish. Price is holding above key rising moving averages (SMA50 ~$51.41), confirming the broader uptrend remains intact.
Current Move: Healthy pullback within the larger uptrend. This offers a higher-probability entry point than chasing new highs.
✅ Entry & Support Confluence:
The $55.05 level represents a pullback into a zone of prior support and aligns with a key Fibonacci retracement level (e.g., 50% or 61.8% of the last leg up).
This is a classic "buy the dip" setup in a confirmed uptrend.
✅ Momentum Check:
RSI: Is retreating from overbought territory towards a healthier level (near 50), supporting the case for a momentum reset before the next potential push higher.
MACD: Is likely cooling off from a peak, which is normal during a pullback. A bullish crossover from these levels would add confirmation.
📈 Fundamental Backing
This isn't just a technical bounce; strong fundamentals support the long thesis:
Strong Growth: FOX showed strong growth in its last report with Revenue rising to $16.3B from $13.98B YoY.
Net Income Surge: Net Income exploded to $2.26B from $1.50B, indicating powerful profitability.
Solid Financial Health: The company maintains a reasonable debt profile with a healthy interest coverage ratio.
🎯 Why These Levels?
Entry ($55.05): A value zone where buyers have previously stepped in. The risk is well-defined below support.
Stop Loss ($52.53): Placed decisively below the entry zone and key moving averages (SMA50). A break below this level would invalidate the pullback thesis and suggest a deeper correction.
Take Profit ($60.45): Targets the next major resistance area, offering a favorable reward relative to the risk.
⚠️ Risk Considerations
Market Sentiment: As a media company, FOX can be sensitive to broader market sentiment and advertising cycles.
False Breakdown: A sharp move below $52.53 would trigger the stop, indicating a failure of the setup.
Always use a stop-loss. Protect your capital.
📢 Conclusion
FOX presents a high-quality pullback setup:
✅ Strong fundamental story with explosive earnings growth.
✅ Healthy technical correction within a solid uptrend.
✅ Attractive Risk-to-Reward ratio with clearly defined levels.
I'm looking to buy the dip near $55.05 for a swing towards $60.45.
🔔 What's your read? Is FOX a buy on this weakness?
#Trading #Stocks #FOX #Media #TechnicalAnalysis #SwingTrading #Investing
Disclaimer: This is not financial advice. Conduct your own research and manage your risk appropriately.
📊 Timeframe: Daily (D1) / Swing Trade
💰 Entry: $55.05 (Pullback to support & value zone)
🛑 Stop Loss: $52.53 (Below recent swing low & SMA confluence)
🎯 Take Profit: $60.45 (Previous resistance & measured move target)
📉 Risk/Reward Ratio: 1 : 2.1
🔍 Technical Analysis
✅ Trend Structure:
Primary Trend: Bullish. Price is holding above key rising moving averages (SMA50 ~$51.41), confirming the broader uptrend remains intact.
Current Move: Healthy pullback within the larger uptrend. This offers a higher-probability entry point than chasing new highs.
✅ Entry & Support Confluence:
The $55.05 level represents a pullback into a zone of prior support and aligns with a key Fibonacci retracement level (e.g., 50% or 61.8% of the last leg up).
This is a classic "buy the dip" setup in a confirmed uptrend.
✅ Momentum Check:
RSI: Is retreating from overbought territory towards a healthier level (near 50), supporting the case for a momentum reset before the next potential push higher.
MACD: Is likely cooling off from a peak, which is normal during a pullback. A bullish crossover from these levels would add confirmation.
📈 Fundamental Backing
This isn't just a technical bounce; strong fundamentals support the long thesis:
Strong Growth: FOX showed strong growth in its last report with Revenue rising to $16.3B from $13.98B YoY.
Net Income Surge: Net Income exploded to $2.26B from $1.50B, indicating powerful profitability.
Solid Financial Health: The company maintains a reasonable debt profile with a healthy interest coverage ratio.
🎯 Why These Levels?
Entry ($55.05): A value zone where buyers have previously stepped in. The risk is well-defined below support.
Stop Loss ($52.53): Placed decisively below the entry zone and key moving averages (SMA50). A break below this level would invalidate the pullback thesis and suggest a deeper correction.
Take Profit ($60.45): Targets the next major resistance area, offering a favorable reward relative to the risk.
⚠️ Risk Considerations
Market Sentiment: As a media company, FOX can be sensitive to broader market sentiment and advertising cycles.
False Breakdown: A sharp move below $52.53 would trigger the stop, indicating a failure of the setup.
Always use a stop-loss. Protect your capital.
📢 Conclusion
FOX presents a high-quality pullback setup:
✅ Strong fundamental story with explosive earnings growth.
✅ Healthy technical correction within a solid uptrend.
✅ Attractive Risk-to-Reward ratio with clearly defined levels.
I'm looking to buy the dip near $55.05 for a swing towards $60.45.
🔔 What's your read? Is FOX a buy on this weakness?
#Trading #Stocks #FOX #Media #TechnicalAnalysis #SwingTrading #Investing
Disclaimer: This is not financial advice. Conduct your own research and manage your risk appropriately.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.