After underperforming the S & P 500 through most of 2025, Fox Corporation (FOX) is finally showing signs of real strength. With a gap higher after its recent earnings release, and improving momentum signs on the follow-through phase, we’re seeing further upside potential for this media conglomerate. The daily chart shows how the consolidation phase that has lasted through most of 2025 started with a February peak around $54.50. FOX then sold off to reach almost down to its 200-day moving average around the April market low. The stock tested a secondary resistance level around $52 through the spring months, before finally retesting the $54.50 level in August. The price momentum, as measured by the RSI indicator, was fairly constructive during this consolidation period. Pullbacks saw the RSI remain above 40, and upswings would move the RSI back above the 60 level. So even though attempted breakouts in September and October did not propel FOX to further gains, the momentum suggested that the opportunity was imminent. The peak in early September came in around $57, and by zooming into the candles around that period, we can see plenty of short-term signs of distribution that confirmed that resistance point. The early September peak was followed by a gap lower that pushed FOX down to just below $51. When FOX returned to that $57 level in late September, we observed a “shooting star” candle which indicated bearish short-term sentiment. As expected, the price continued lower after that bearish candle pattern, ending in a retest of early September low around $51. About a week ago, FOX finally broke above the $57 point, with no bearish candle patterns or divergences indicating a weakening demand. With a fresh breakout above established resistance, FOX appears to be finally emerging from this long-term consolidation phase. The weekly chart of Fox Corporation demonstrates a long-term uptrend phase, with the major lows in 2025 all testing an upward-sloping 40-week moving average. With this long-term picture becoming more clear, we can now explain the 2025 consolidation as a brief pause in the secular uptrend phase that began in Q1 2024. Further validating this bullish thesis, the weekly RSI has remained above the 50 level since FOX broke above its 150-week moving average back in May 2024. What would help us confirm the recent breakout as a bullish sign for FOX? Volume conditions remain a little weak in early November, with the Chaikin Money Flow just returning above the crucial zero level this week. Stronger CMF readings in the weeks to come could confirm broader accumulation for FOX, and validate a bullish thesis into year-end for this leading entertainment name. -David Keller, CMT marketmisbehavior.com DISCLOSURES: None. All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.
