- DIS stock price recovered 33% form the 52 week low
- Walt Disney stock breakout of the 200 day EMA but the follow up is missing
- NYSE : DIS stock price gained 24% on monthly basis and forming a bullish reversal pattern
The Walt Disney Co (DIS) stock price is trading with mild bearish cues and bears are trying to drag the prices below the 200 day EMA. However, DIS bulls seem to be very aggressive and likely to bounce back from the demand zones. Currently, NYSE : DIS stock price is trading at $109.63 with the intraday loss of 0.98%.
Will the DIS stock price retest $100 ?
On a daily time frame, DIS stock price is rising upward with the positive momentum and forming a higher high candle shows the confidence of bulls. In the mid of January, DIS stock prices succeeded to reclaim above the 50 day EMA which derived the positive sentiment and prices shot up 20% approx in a short span of time. Recently, the bulls had also broken out of the 200 day EMA (green) which has created a new hope for the long term investors and turned the positional trend in the favor of bulls.
DIS stock price had attempted to break out of the swing high hurdle at $109.00 but prices seem to be lacking the follow up movement and likely to see some consolidation before deciding the further direction. However, if bulls succeed to hold the $109.00 then it can rally toward the $120.00 mark. On the lower side, $100 will act as an immediate support for the bulls and dip toward $100 will provide a buying opportunity for the short term traders.
The technical indicators of the stock are turning mild bearish but the price action is still in the favor of bulls. The MACD is on its way to generate a negative crossover and the RSI also reversing down from the overbought zone which might be a matter of concern for the bullish traders.
According to data from Yahoo finance, An average earning estimate for the DIS Q4 is $0.79 and the revenue estimates stood at $23.36B. If DIS disappoint the street estimates then prices might test $100.00 else not.
Summary
The Walt Disney stock price is on a continuous rise but prices seem to be lacking the momentum and may react violently after the Q4 result. The technical analysis suggests that if prices drop below the 200 day EMA then it might retest the $100.00 level.
Technical levels
Resistance levels : $117.00 and $126.00
Support levels : $100.00 and $96.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/02/06/walt-disney-co-dis-stock-price-prediction-dis-stock-price-prepares-for-gap-down-in-the-q4-earnings/