- Walt disney theme parks are still looking to get back to normal before covid. Meanwhile the relaunch of disney fan favorites did not go as planned.
- Disney has fell short for the expectations of profit and revenue for the fourth quarter.
Walt Disney resorts are considered as one of the best holiday spots for tourists. These resorts are looking to get back under normal routine before covid. While most of the spots are reponed people are still in a long waiting line. Disney has fell short for expectations on profit and revenue for this quarter. Meanwhile, the company has warned that the growth of their streaming services may taper going forward. After the results were announced, the company stock price fell almost 8% during the intraday trading session. The company’s quarterly results have missed the wall street expectations. Meanwhile, Disney+ has added approximately 12.1 million subscribers. Disney CEO has said that Disney+ will be profitable in 2024.
Technical Indicators Suggests A Consolidated Trend
The weekly technical chart of the Disney suggests a downside trend in price. On coming to the daily chart the asset price is trading near the value of $91 with a gain of 0.38%. The asset price is currently trading below the 50 and 100 Daily Moving Average. There is a negative crossover in the asset price suggesting a downside trend. Resistance of the Disney can be seen near $100. Meanwhile the support of the asset price can be seen near $80
Conclusion
Disney has seen a decline in the profit and revenue from the last quarter. Meanwhile Disney+ has observed an addition of 12 million additions. The stock price is currently in a downside momentum but can move to a new high.
Disclaimer
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Source: https://www.thecoinrepublic.com/2022/11/20/disney-fell-short-of-expectation-of-profit-and-revenue/