Twenty-First Century Fox $FOXA has been consolidating since it retreated from $50 a share in late-June/early-July. The daily chart shows price action shifting from the initial correction to a sideways consolidation. Recently, we saw a little more volatility followed by a bullish push, suggesting a bullish continuation is already under way.FOXA Daily Chart(click to enlarge)Bullish Outlook:- Price action itself shows bullish signs.- It has remained above the 200- and 100-day simple moving averages (SMAs), and is now even back above the 50-day SMA.- Furthermore, note that the RSI tagged above 70, and then held above 40. This also suggests a buildup of bullish momentum.- FOXA has upside to at least the $50 high on the year with a strong potential of breaking higher in continuation of the prevailing uptrend. - At this point, a break below $45 would be needed to invalidate the bullish outlook. Instead, if we see a pullback, we can expect support at or above $46 if the market is indeed bullish on FOXA