The writer’s and actor’s strike could hurt The Walt Disney Company’s stock. The company could lose revenue and earnings due to the strike. However, the strike could also affect the company’s streaming market share, as new shows and movies that need scripts or unionized talent could be delayed or disrupted.
DIS has a market value of $159.304 Billion. It has been growing its sales and profits consistently. In 2022, it earned $82.58 billion in revenue and $3.15 Billion in net income. Its net profit margin was 3.81% for 2022. The company owes $52.26 Billion in debt, but it also has $11.62 million in cash and equivalents.
However, the stock price does not reflect the strong technicals as of now. It is trading below the 200-day and 50-day moving averages, indicating bearishness.
Walt Disney Company Stock Price Technical Analysis
Walt Disney Company stock price is displaying strong bearish momentum as its price has traded below the 50-day and 200-day moving averages. The stock is confronted by three formidable challenges: the 50-day and 200-day moving averages and the unyielding trendline resistance. Moreover, if the price breaks these hurdles, then a new trend could start.
The super trend line is above the price, showing a red signal and suggesting a negative trend.
The RSI is close to the median line, reflecting a bearish trend. Currently, the RSI is at 42.71 points, and the 14-day SMA line is at 42.58 points, and both are close to the median line and give a bearish outlook
The MACD line has crossed above the signal line, which is a positive sign. Currently, the MACD is at -1.14 points, the signal line is at -1.10 points, and both are below the zero line in the negative area.
Summary
The chart of Walt Disney Company’s stock shows a lack of clear direction at the moment. The technical indicators MACD, RSI, and super trend are giving mixed signals, suggesting that the DIS stock price is in a sideways trend. The price is trading between two key levels: the support level at $84.00 and the resistance level at $91.00. The next move will depend on whether the price can break above or below these levels and establish a new trend.
Technical Levels
- Support Level – The current support level is $84.00.
- Resistance Level – The current resistance level is $91.00.
