Technical Analysis – Disney’s stock pivots at yearly lows but could crumble still
Disney’s stock has been sailing southwards since the peak at a record high of 202.87 almost a year ago, recently charting a new lower low at 129.10 before crawling back to 142.30.
Despite the upturn in the RSI and the MACD, the former has yet to break above its 50 neutral mark and the latter is still hovering within the negative region, both reflecting some caution among traders ahead of the company’s post-market Q1 earnings release today.
A step above the 20-day simple moving average (SMA) and the 144.50 resistance could improve market sentiment, clearing the way towards the nearby barrier of 153.00. Beyond the latter, the bulls will attempt to upgrade the short-term outlook above January’s high of 160.07 and gear up to the 200-day SMA at 168.70.
If the 144.50 region proves strong enough to squeeze the price below the 139.00 base, the spotlight will fall again to the 132.00 - 129.10 support zone. A decisive close lower from here may produce stronger selling pressures towards 121.42 taken from October 2020.
Summarizing, Disney’s stock is still looking fragile in the short-term picture despite its latest upside reversal. An extension above 144.50 may reduce downside risks, though the broad bearish outlook may not change unless the price swiftly rises above 160.00.免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
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