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- Disney stock price has been dropping dramatically through a declining parallel channel over the daily time frame chart.
- DIS stock price is currently trading below 20, 50, 100 and 200-days Daily Moving Average.
- The Walt Disney Company, also referred to as Disney, is a global American media and entertainment business with headquarters in Burbank, California’s Walt Disney Studios.
Disney stock price has been declining through a descending parallel channel over the daily time frame chart. DIS stock price needs to sustain at the current level and leave the falling pattern through the upper trendline of the declining channel.
Buyers are trying to provide a kickstart to the stock to rise towards the upper trendline of the falling channel. Accumulation rate is up to the mark as volume change can be seen above average showcasing the buyers efforts towards the recovery of Disney stock price.
Disney stock price was trading at $86.88 and has lost 0.34% of its market capitalization in the past 24-hour period. Meanwhile, DIS share price showcased some recovery in a week by rising around 0.95% in last week. However, the quarterly report for DIS stock is not satisfactory as the share price has dropped around 10% in the last quarter.
Disney stock price is currently trying to recover towards the upper trendline of the descending parallel channel over the daily time frame chart. However, DIS stock price needs to maintain the current accumulation rate in order to register its breakout from the falling pattern. Meanwhile, Disney share price is still below 20, 50, 100 and 200-days Daily Moving Average.
Disney Stock Price (NYSE: DIS): Exclusive Technical Analysis
Technical indicators suggest that Disney share price is trying to sustain at the current level over the daily time frame chart. Relative Strength Index showcases the recovery rate of DIS stock price over the daily time frame chart. RSI is at 40 and is trying to surge towards neutrality.
MACD exhibits the uptrend momentum of DIS stock price. The MACD line is about to cross the signal line upwards, registering a positive crossover. Investors in Disney stock need to wait until the share price surges out of the descending parallel channel over the daily time frame chart.
Summary
Disney stock price has been declining through a descending parallel channel over the daily time frame chart. However, DIS stock price needs to maintain the current accumulation rate in order to register its breakout from the falling pattern. Technical indicators suggest that Disney share price is trying to sustain at the current level over the daily time frame chart. MACD exhibits the uptrend momentum of DIS stock price. Investors in Disney stock need to wait until the share price surges out of the descending parallel channel over the daily time frame chart.
Technical Levels
Support Levels: $84.00 and $80.00
Resistance Levels: $90.00 and $100.00
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
