WBD stock price may recover towards the $15 mark if it breaks out from the primary resistance level over the daily time frame chart. However, WBD shares have been trying to break out of the $13.40 but couldn’t sustain and slipped instead. Meanwhile, buyers are accumulating themselves to push WBD shares upwards.
Gunnar Wiedenfels, CFO of Warner Bros., discussed at an investor conference the factors that influence the company’s decisions regarding licensing programming. These factors include the Disney-Charter carriage deal, labor strikes in Hollywood, the advertising market, and the potential development of ‘Barbie’ theme park offerings, all of which contribute to their strategic considerations.
WBD stock price was at $11.73 and has gained 2.80% of its market capitalization during Thursday’s trading session. However, trading volume was below average and needs to grow during Friday’s trading session. This demonstrates that buyers need to accumulate at a higher rate during Friday’s trading session to push WBD shares.
What is the Forecast for WBD Stock? – Roadmap For $15
WBD stock price may surge with a strong upside trend if it breaks out of the primary resistance level. However, trading volume needs to be maintained during Friday’s trading session. Buyers are being instructed to get involved in the trade if WBD shares manage to sustain above the primary resistance level. Then the stock price may continue to surge towards the $15 mark.
Nevertheless, Warner Bros. Discovery stock price needs to surge from the $12.10, $12.83, $13.40, and $14.73 respective resistances to reach the $15 mark. Afterward, WBD share price may march towards $16.33 if it sustains above $15.55 after a mild consolidation.
WBD stock price gained 2.99% in a week but lost 12.27% in a month. WBD shares dropped 10.39% in the last three months and 20.53% in the last six months. Nevertheless, Warner Bros. Discovery stock managed to gain 21.55% year-to-date. This confirms that WBD shares might recover the most in 2023.
Technical indicators suggest an upside trend for WBD stock. The relative strength index and moving average convergence divergence both confirm the upward momentum of WBD shares.
RSI was at 43 and is heading towards neutrality. The MACD line is moving towards the signal line for a positive crossover. Investors in Warner Bros. Discovery Inc. (NASDAQ: WBD) need to wait until the WBD shares sustain at the primary resistance level.
Summary
WBD stock price may recover towards the $15 mark if it breaks out from the primary resistance level over the daily time frame chart. Gunnar Wiedenfels discussed at an investor conference the factors that influence the company’s decisions regarding licensing programming. Buyers are being instructed to get involved in the trade if WBD shares manage to sustain above the primary resistance level. Technical indicators suggest an upside trend of WBD.
Technical Levels
Support Levels: $11.35 and $11.25
Resistance Levels: $11.95 and $12.82
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/09/16/warner-bros-discovery-cfo-talks-on-streaming-prices-wbd-stock-up/