Meanwhile, News Corp. (NWSA - Get Report) is shaping up into a very different type of trade right now. The media conglomerate has been locked in a well-defined uptrend since back in October. Now that trend channel is creating a trading opportunity for late-to-the-game buyers.
Instead of a breakout, we're looking for a bounce in shares of News Corp. this week. With shares testing trend line support right now, we've got what amounts to a low-risk opportunity to buy shares: If we're right, we'll get to ride the bounce all the way up the channel, and if we're wrong, we'll know quickly and be able to cut losses quickly.