Today's Volume: 38.6 millionAverage Volume: 16.2 million Volume % Change: 308% Shares of NWSA are ripping higher today after the company confirmed multiple reports that it's considering a restricting to separate its business into two distinct publicly traded companies, splitting its publishing assets from its entertainment businesses. >>5 Stocks Immune to Europe's Problems From a technical perspective, is gapping up strong here with monster volume. This move has pushed the stock into breakout territory, since it has taken out some major past overhead resistance at around $20.40 to $20.70. Traders should now look for long-biased trades if NWSA is trending above today's high with heavy volume. At last check, NWSA has hit an intraday high of $21.75 and volume is well above its three-month average action. I would consider any upside volume day that registers near or above 16,181,700 shares as bullish. On the flipside, I would avoid this stock if it moves back below those key breakout levels of $20.70 to $20.40 with heavy volume. As of the most recently reported period, News Corp. was one of Bridgewater Associates' holdings and also showed up on in Seth Klarman's Baupost Group portfolio.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts