In an earlier blog I suggested the downward sloping channel in Newscorp should be watched for reversals at channel boundaries or a break through the upper boundary for a change of trend. Well Newscorp has pierced the upper line on the weekly chart above. However the move is unconvincing. Note the lack of increase in volume on the breakout and the fall off in volume in general as Newscorp rallied from its June low. I'd like to see a significant pick-up in volume of shares traded on any new advance to be convinced this is the start of any major move.
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