Shares of 21st Century Fox moved higher in extended trading, after the company reported a 16.8 percent rise in revenue thanks to the box office success of films such as “X-Men: Days of Future Past” and growth in its cable business.
But all anyone really wants to know about is what company founder Rupert Murdoch will do next, now that his $80 billion bid for Time Warner has been, at least temporarily, withdrawn.
Will Murdoch go after another media giant? Will he make another bid for Time Warner? And what’s next for the stock?
John Kosar of Asbury Research said the technicals paint a strong picture for the stock for two reasons; solid support at $30.67 per share and near-term overselling—both which could set the stock up for a nice bounce in the coming months.
Kosar also pointed out on a longer-term chart that a former high of $29.41 per share in February 2000 combined with strong support could help the stock propel higher. “This looks like a great place to buy.”
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