Disney stock price has been trading inside a falling parallel channel since August 2022, over the daily time frame chart. However, DIS share price managed to escape the descending parallel channel and it must sustain out of the channel. Meanwhile, volume change is weak and can be observed below average and needs to grow for Disney stock price to successfully sustain at the current level. In order to continue this inclining streak DIS share price must open Monday’s trading session with full enthusiasm towards buying. Investors in the Walt Disney Company are already expecting some great returns this year as analysts speculate DIS share price may surpass $100 mark to register maximum recovery in 2023. In the meantime, Disney stock price must maintain the accumulation phase of buyers to recover properly.
Disney stock price was at $93.92 and has gained 2.18% of its market capitalization by the closing of this week. Now trading volume should be increased for DIS shares to surge towards its recovery phase.
Disney stock price has recovered above 20 and 50-EMA by registering its breakout from the descending parallel channel over the daily time frame chart. However, volume change can be seen below average and needs to grow for DIS shares to rally over the daily time frame chart. Traders need to wait until Monday’s trading session starts and open up some good buying opportunities for Disney company investors.
When will Disney Stock Price cross $100 Per Share Valuation?
Disney stock price (NYSE:DIS) has been trading with strong uptrend momentum over the daily time frame chart. Meanwhile, DIS shares have been trying to sustain above the declining parallel channel and must sustain during Monday’s trading session. Technical indicators suggest the uptrend momentum of DIS share price. However, investors need to wait until Monday’s trading session to look for a greater recovery of the share price during the day’s trading session and it is a must buy opportunity for DIS shareholders.
Relative Strength Index showcases the uptrend momentum of DIS share price. RSI is at 56 and is above neutrality heading towards overbought territory. MACD exhibits the upward velocity of DIS share price. The MACD line is above the signal line after a positive crossover. DIS shareholders need to wait until DIS share price sustains above the falling pattern over the daily time frame chart.
Summary
Disney stock price (NYSE:DIS) has been trading inside a falling parallel channel since August 2022, over the daily time frame chart. However, DIS share price managed to escape the descending parallel channel and it must sustain out of the channel. However, volume change can be seen below average and needs to grow for DIS shares to rally over the daily time frame chart. Technical indicators suggest the uptrend momentum of DIS share price. Relative Strength Index showcases the uptrend momentum of DIS share price. DIS shareholders need to wait until DIS share price sustains above the falling pattern over the daily time frame chart.
Technical Levels
Support Levels: $90.00 and $85.00
Resistance Levels: $95.00 and $105.00
