Fox Corporation stock consolidates due to rising sports programming costs
FOXA stock appears poised for further upside
As of March 28, 2025, Fox Corporation’s Class A shares (NASDAQ: FOXA) are trading at $54.92, showing a modest decline of 0.53% from the previous session.
Despite this dip, the stock remains in a bullish formation, having steadily advanced over the past six months. It is currently trading close to its 52-week high of $58.74, which was reached earlier in March, reflecting growing investor confidence in the company’s long-term positioning.
From a technical standpoint, FOXA is trading above both its 50-day and 200-day simple moving averages. The 50-day SMA is currently around $53.39, and the 200-day SMA is at $48.58, indicating positive momentum across both short- and long-term horizons. This positioning supports the view that the trend remains upward as long as the price stays above the $52.00 support zone.
FOXA stock price dynamics (January 2025 - March 2025). Source: TradingView.
The stock’s Relative Strength Index (RSI) is hovering near 58, which places it comfortably in neutral territory. This suggests that the stock is not overbought and still has room to climb if positive momentum continues. Key support levels can be identified at $52.00 and $50.25, while resistance remains at $58.74, followed by a psychological ceiling near $60.00.
Market context
FOXA has shown relative strength compared to some of its peers in the media sector. On March 25, FOXA gained 2.94%, outperforming high-profile names like Apple (AAPL), Amazon (AMZN), and Netflix (NFLX) during the same session. This outperformance highlights strong investor interest in traditional media and content-rich broadcasting firms, especially amid a rotation from overvalued tech stocks into value-oriented plays.
However, analysts have raised concerns over rising costs related to sports programming, particularly within Fox’s live content strategy. Expectations for Fox's fiscal third-quarter EBITDA have been revised downward from $818 million to $753 million, primarily due to inflation in sports media rights and production costs. Revenue estimates also came in slightly below Wall Street consensus, now projected at $4.11 billion versus $4.16 billion.
Despite these near-term headwinds, Fox continues to benefit from its strong portfolio of live news and sports content, which remains a key driver of advertising revenue and subscriber retention in an increasingly fragmented streaming landscape. The company’s steady cash flows and leaner streaming footprint, relative to peers, offer some defensive qualities in a volatile media environment.
Investment scenarios
Given the current setup, FOXA stock appears poised for further upside if broader market sentiment holds steady and upcoming earnings do not produce major negative surprises. As long as the stock remains above its 50-day moving average and maintains momentum above the $52.00 support level, there is a high probability it will retest the $58.74 resistance zone in the coming weeks.
On the downside, any deterioration in advertising trends or a sharp increase in sports rights costs could weigh on sentiment. A break below $52.00 would expose the stock to downside risk toward the 200-day average near $48.50. For now, the bias remains modestly bullish with a near-term price target range of $56.50 to $58.50.
Earlier this week, we reported that FOXA has demonstrated notable technical strength in recent months, hitting a 52-week high of $55.77. The stock continues to trade above both its 50-day and 200-day moving averages, indicating sustained bullish momentum.
