Fox Corporation stock strong on high revenue dynamics
The company reported second-quarter revenue of $5.08 billion
Fox Corporation's (FOXA) stock is currently trading at $53.12 as of March 24, 2025, reflecting a slight decline of $0.28 or -0.52% from the previous session’s close. The stock opened at $54.03, reached an intraday high of $54.35, and dipped to a low of $52.99. Trading volume for the day stood at approximately 276,972 shares, suggesting moderate investor activity.
From a technical perspective, FOXA has exhibited strength over the past several months. The stock reached a 52-week high of $55.77 last month, reflecting strong bullish momentum. The 50-day moving average is currently at $45.64, while the 200-day moving average stands at $42.50. This positioning indicates that the stock remains in a bullish phase, with prices consistently trading above both short-term and long-term moving averages.
FOXA stock price dynamics (January 2025 - March 2025). Source: TradingView.
Support is established around the $50 mark, where buyers have previously shown interest, preventing deeper pullbacks. Resistance lies near the recent peak of $55.77. A decisive close above this level would signal further bullish potential. The Relative Strength Index (RSI) is currently at 68, nearing overbought territory, which suggests that the stock might face short-term consolidation or a minor pullback before another breakout attempt. The Moving Average Convergence Divergence (MACD) line remains above the signal line, reinforcing the current upward momentum.
Market context and recent developments
Fox Corporation’s recent financial performance has been strong, driven by increased revenue across key business segments. The company reported second-quarter revenue of $5.08 billion, which marked a 20% year-over-year increase. This growth was fueled by strong political advertising revenue tied to the U.S. presidential election cycle and increased advertising rates for sports broadcasts, particularly Major League Baseball and NFL games.
The company’s Tubi streaming platform also contributed to revenue growth, with rising user engagement and increased advertising revenue. Fox's strategic focus on sports and news content has created a stable revenue base, even as broader market conditions remain volatile.
Furthermore, Fox Corporation announced plans to launch a new subscription-based streaming platform later this year, which will include content from Fox News and Fox Sports. This initiative is expected to drive subscriber growth and diversify the company's revenue streams beyond traditional cable and broadcast television.
Recent institutional activity reflects mixed sentiment among major investors. Heron Bay Capital Management recently reduced its holdings in Fox Corporation, selling 12,075 shares, representing a 22.1% reduction in its position. The firm now holds 42,575 shares valued at approximately $1.29 million. While this indicates some profit-taking, other institutional investors have increased their stakes, suggesting that overall confidence in Fox Corporation's long-term prospects remains intact.
Price forecast
Fox Corporation’s technical setup and solid fundamental performance suggest a favorable outlook in the short term. If the stock maintains support around the $50 level and breaks above the resistance at $55.77, it could target the $58 to $60 range in the coming weeks. A sustained breakout above this level would signal strong bullish momentum and open the door for further gains.
Alternatively, if the stock fails to hold the $50 support level, a retracement toward the 50-day moving average at $45.64 could occur. Such a pullback would likely be viewed as a consolidation phase rather than a trend reversal, especially if buying interest increases at lower levels.
Last week, Fox Corporation (FOXA) stock traded at $52.92, maintaining a 52-week range between $29.34 and $58.74, reflecting both upward momentum and sector volatility. The 14-day RSI at 49.71 indicates neutral conditions, suggesting potential consolidation in the near term.
