Meanwhile, News Corp. ( NWSA) 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. >>5 Stocks Poised to Pop on Earnings NWSA announces earnings after the bell on May 9. Unless you're looking to buy shares for fundamental reasons using technical timing, I'd strongly suggest selling ahead of the earnings call. Otherwise, the stop loss level is right below the trend line support level on the chart.