Exactly one week ago, on August 6th, John Kosar, our Director of Research, appeared on the Talking Numbers segment of CNBC’s Street Signs to discuss Twenty-First Century Fox, Inc. (FOXA).  

In the interview John pointed out on a longer-term chart that a former high of $29.41 per share in February 2000, combined with more near term support, at $30.67, could help the stock propel higher and said: “This looks like a great place to buy.”

The chart below shows that FOXA has since risen by $3.12 per share or 10% as of this morning, which:

1. we would consider a windfall profit, especially in just one week’s time, and
2. positions the stock at the upper edge of its 9 month trading range at $35.44.

FOXA daily since 2013

Although, bigger picture, FOXA appears poised to continue significantly higher over the next 1-2 quarters, this important overhead resistance level may be a place to consider taking some very quick and significant near term profits off the table.

Thanks to CNBC and Yahoo! Finance for the opportunity to appear on the show last week.  John Kosar is scheduled to appear on Talking Numbers again on August 20th and August 27th.