Warner Music Group (WMG) Chart Breaches 200 days MA From Top

Warner Music Group (NYSE: WMG), had shed almost 18.4% by late mid-day trading hours on Tuesday to $5.75, after Warner Music Group (WMG) reported an unexpected quarterly loss tied to higher operating costs.

Warner Music Group (WMG) stock, posted a net loss of $18 million, in its Q4 ending Sept. 30, compared with a profit of $6 million a year ago. WMG daiy candlesticks chart breached the 200 days MA from top, indicating weakness in stock.