Disney Stock Price Dips As Moving Averages Turn to Sell

Disney Stock price

Walt Disney stock (NYSE:DIS) is a experiencing corrective drop of 4.5% from a maximum of 52 weeks on December 2nd. Since the beginning of November, the stock quotations have added more than 12% in value. The shares are supported by company news, including a robust quarterly report, the launch of Disney + in the United States, and the nearest service expansion in France, as well as the box office for the “Frozen 2” sequel for an amount exceeding USD 1 billion. During the previous week, the Walt Disney stock fell by 1.20%. The S & P500 index increased by 1.08% over the same period.

The market is focused on US trade relations, as well as on the publication of US GDP data Q3. Yesterday, the House of Representatives of the United States Congress approved a new trade agreement between the United States, Mexico, and Canada. The new deal will replace the previously existing NAFTA agreement. Establishes workers ‘wages in automotive production at a rate of at least $ 16 an hour, expands American farmers’ access to the Canadian dairy market, and also clarifies the rules of digital commerce. Stephen Mnuchin, US Treasury Secretary, said the new deal would lead to an increase in demand for the US economy of over 0.5%. During the day, investors are waiting for final data on US Q3 GDP. The US economy should accelerate growth from 2.0% to 2.1%, according to the second preliminary estimate.

Today, oil prices are adjusted downwards. The price reduction is likely to be corrective, as investors continue to positively accept the conclusion of the trade agreement between the United States and China, which has already led to the removal of Chinese tariffs for the supply of some US chemical and oil products.

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In the evening, the Baker Hughes report on oil platforms operating in the United States of America is scheduled to be published. Previously, the number had increased from 663 to 667 units. The continuation of this trend can put oil prices under pressure.

1 Day Disney Stock Support and Resistance

Shares of the company have stabilized after a prolonged rally. At the moment, #DIS shares are consolidating. No single direction tendencies are observed. The key trading range is 144.00–149.00. The instrument has the potential to correction. Indicators don’t give a clear signal: the price has consolidated between MA(50) and MA(200), and MACD shows negative dynamics. Positions are to be opened from key levels. Comparing the company’s multiplier with its competitors in the industry, we can say that #DIS shares are neutral.
Support levels: 144.00, 140.00, 136.00.
Resistance levels: 149.00, 153.50.

ABS REPORT

Pivot Classic Fibonacci Camarilla Woodie DM
S3 99.37 122.27 145.28 118.59 —
S2 122.27 131.02 147.38 124.55 —
S1 136.92 136.42 149.48 141.49 141.05
P 145.17 145.17 145.17 147.45 147.23
R1 159.82 153.91 153.68 164.39 163.94
R2 168.07 159.32 155.78 170.35 —
R3 190.96 168.07 157.88 187.29 —

1 Day Disney Stock Trading Ideas

If the price consolidates below the support level of 144.00, #DIS shares may correct. Potential profits should be locked in by orders at 140.00, 136.00, and 133.00. Stop-loss – 148.00. If the price consolidates above 149.00, one may consider buying #DIS. The moving potential is aimed at the area of 156.00–160.00. Stop-loss – 145.00. Implementation period: 3 days.

Disney Stock Recommendations

Nov-26-19 Initiated Consumer Edge Research Overweight $175
Nov-20-19 Reiterated Imperial Capital In-line $141 → $143
Nov-19-19 Reiterated Rosenblatt Buy $170 → $175
Nov-14-19 Reiterated JP Morgan Overweight $150 → $160
Nov-11-19 Reiterated Imperial Capital In-line $139 → $141
Nov-08-19 Reiterated Wells Fargo Outperform $173 → $167
Sep-24-19 Initiated Wells Fargo Outperform $173
Aug-20-19 Reiterated Imperial Capital In-line $147 → $140
Aug-08-19 Upgrade Credit Suisse Neutral → Outperform
Jun-17-19 Downgrade Imperial Capital Outperform → In-line $147
Jun-13-19 Reiterated Morgan Stanley Overweight $135 → $160
Jun-06-19 Reiterated Citigroup Buy $132 → $160
May-07-19 Reiterated Imperial Capital Outperform $139 → $147
May-06-19 Reiterated UBS Buy $128 → $165
May-01-19 Reiterated Barclays Overweight $130 → $150
Apr-23-19 Resumed Guggenheim Buy $157
Apr-23-19 Reiterated BofA/Merrill Buy $144 → $168
Apr-15-19 Upgrade BTIG Research Sell → Neutral
Apr-15-19 Reiterated Imperial Capital Outperform $129 → $139
Apr-12-19 Resumed JP Morgan Overweight $137

1 Day Disney Stock Moving Averages

Name Value Action
Exponential Moving Average (5) 146.82 Sell
Simple Moving Average (5) 147.00 Sell
Exponential Moving Average (10) 147.14 Sell
Simple Moving Average (10) 147.03 Sell
Exponential Moving Average (20) 146.53 Sell
Simple Moving Average (20) 148.24 Sell
Exponential Moving Average (30) 145.10 Buy
Simple Moving Average (30) 146.48 Sell
Exponential Moving Average (50) 142.63 Buy
Simple Moving Average (50) 140.21 Buy
Exponential Moving Average (100) 139.17 Buy
Simple Moving Average (100) 137.66 Buy
Exponential Moving Average (200) 133.93 Buy
Simple Moving Average (200) 134.54 Buy
Ichimoku Cloud Base Line (9, 26, 52, 26) 145.13 Neutral
Volume Weighted Moving Average (20) 148.48 Sell
Hull Moving Average (9) 146.94 Sell

1 Day Disney Stock Oscillators

Name Value Action
Relative Strength Index (14) 52.02 Neutral
Stochastic %K (14, 3, 3) 21.00 Neutral
Commodity Channel Index (20) −96.36 Neutral
Average Directional Index (14) 27.39 Neutral
Awesome Oscillator 2.42 Neutral
Momentum (10) −1.29 Sell
MACD Level (12, 26) 1.46 Sell
Stochastic RSI Fast (3, 3, 14, 14) 4.98 Neutral
Williams Percent Range (14) −86.11 Neutral
Bull Bear Power −2.14 Neutral
Ultimate Oscillator (7, 14, 28) 44.83 Neutral

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