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- 1 Walt Disney Co (NYSE: DIS) stock price has been caged inside the horizontal price range.
- 2 Disney stock price must break out from the $95 threshold this week.
- 3 Investors in DIS shares must wait for the price to reach the upper threshold.
Disney stock price has been consolidating inside the horizontal price range of $87.25 and $94.75 over the daily time frame chart. However, buyers have been trying to provide a kickstart to the DIS shares from last week, but it looks like the DIS share price may surge towards the upper threshold this week. Disney share price needs to recover from the primary resistance level of $95 to surge towards the $100 recovery level.
Disney stock price was at $88.64 and has declined around 0.11% during Friday’s trading session. The trading volume was below average and needs to grow during Monday’s trading session. Meanwhile, the pre-market session doesn’t show any major change in the Disney share price.
Will Disney Stock Price Reach the $100 Mark?
Disney stock price must initiate its recovery rally to reach the upper threshold of the consolidation phase. However, the DIS shares need to accumulate buyers in order to surge towards its recovery phase. Meanwhile, Disney share price has slipped below the 20, 50, 100 and 200-days Daily Moving Average.
Moreover, Disney shares must register its breakout from the consolidation phase over the daily time frame chart. Disney stock price has lost 0.61% in a week and 4.46% in a month. Also, Disney share price has slumped around 10.86% in the last three months and 4.34% in the last six months.
Analysts believe Disney shares may surge towards the $100 recovery level, if it breaks free from the primary resistance level of $95.
Technical indicators suggest the consolidation phase of DIS stock price. Relative strength index (RSI) showcases the sideways momentum of Disney shares. RSI was at 40 and is heading towards the oversold territory.
MACD exhibits the consolidation phase of DIS share price. The MACD line is flat above the signal line waiting for any type of crossover. Investors in Disney shares need to wait for any directional change over the daily time frame chart.
Summary
On the daily time frame chart, Disney stock price has been consolidated between the horizontal price bands of $87.25 and $94.75 per share. However, in order to accelerate towards its recovery phase, DIS shares must amass purchasers. The price of Disney shares dropped 0.61% in a week and 4.46% in a month. Technical indicators point to a period of price consolidation for the DIS stock. Investors in Disney shares must watch the daily time frame chart for any directional changes.
Technical Levels
Support Levels: $87.82 and $87.25
Resistance Levels: $90.55 and $95.00
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.
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.
