- 1 WBD stock price fell 9.76% in the current month and the downfall continued since then.
- 2 Warner Bros. stock price is in a downtrend.
- 3 Warner Bros. has scheduled quarterly earnings on November 8, 2023.
Warner Bros. WBD stock price fell 9.76% in October and the downfall is continuing. The stock price declined by forming lower low swings and eroded a big portion of its market capitalization.
WBD stock price is in a downtrend and trading below the 50-day and 200-day EMA. It shows that sellers’ dominance in the supply zones and short-term pullback are getting rejected continuously.
At the end of September, Warner Bros. stock price broke downswing low support at $11.00. It hurt the investors’ sentiment and invited further sell-off. However, the price is near its 52-week low which might act as an important support.
Warner Bros. has scheduled quarterly earnings on November 8, 2023. Equity analysts predicted an EPS of -0.101 and revenue of $10.013 Billion. If the company succeeds to
beat the estimates, then the wild short-covering rally in the WBD stock may be seen.
However, if the company disappoints in earnings, then the 52-week low will be at risk. WBD stock price closed the previous session at $9.80 with an intraday rise of 0.72%. The market capitalization stands at $23.89 Billion.
Will WBD Stock Price Repeat the Historical Pattern?
WBD stock price is inside the bears’ grip and eroded the majority portion of the YTD gains.
Previously, when the stock price tested the $9.00 level, a sudden short-covering rally was triggered, and the price rallied 81% in just a few months. So, investors expect that a similar kind of historical pattern might be visible again.
Till Warner Bro. releases the earnings, the stock price is trading below the 200-day EMA and the bears will remain active. Moreover, the reliability of pullback will remain doubtful.
The technical analysis suggests that the WBD share price is in a downtrend and it is better to avoid investing until clear signs of reversal are visible.
Volatility May Rise in Warner Bros. Stock
Warner Bros. stock price is bearish on a daily, weekly, and monthly time frame. The quarterly earnings are scheduled for next week so volatility in the stock price may rise. Investors need to be careful before investing in WBD shares.
The MACD curve generates a negative crossover and sloping down denotes weakness. However, the RSI at 35 is near the oversold territory so it increases the risk of a squeeze.
Warner Bros. WBD stock price fell 9.76% in the current month and displayed a bearish pattern. However, the stock is near the $9.00 support and earnings are also scheduled for next week. So, a short-term bounce is possible in the Warner Bros. stock.
- Resistance levels: $11.00 and $12.83
- Support levels: $8.85 and $8.00
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.