Disney Stock Price Chart

Disney Stock Price Dips. Is Time to Buy?

The Walt Disney Company is one of the leading conglomerates of the entertainment industry in the world, which is experiencing a global uptrend. Last November, the company launched the long-awaited Disney+ streaming service, the cost of which has reached almost $100 billion over the past two months. Thus, now its price is 69% of the value of the entire business of the Netflix main competitor.

The incredible success of the new service brought the company a substantial quarterly income, which will be reflected in the next statistical report, which will be published on February 11. The indicator is expected to reach 20.82 billion, which is almost 2.00 billion more than in the previous period. Despite a recent a recent correctional decline, the Disney’s shares look very attractive for purchase and will soon continue to grow globally.

Investors are still focused on the forum in Davos, as well as the spread of coronavirus in China. Yesterday, US Treasury Secretary Stephen Mnuchin said the US administration had begun work on a new phase in tax cuts for the middle class, despite a growing budget deficit. He believes that such a measure should pay off with economic growth, although he recognized that government spending should be reduced. As for the deadly Chinese virus, the market is afraid of a repeat of the situation of 2002–2003: a decrease in transport activity and the intensity of goods transported through the territory of China, which could cause a slowdown in economic growth. However, experts from the World Health Organization have encouraged investors, saying that the current situation does not threaten peace and is an emergency only for China.

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European investors are focused on the publication of preliminary January data on business activity in industry and services in the EU and Germany. German Manufacturing PMI reached an 11-month high at 45.2, although it remained in the stagnation zone. German Service PMI reached a five-month high around 54.2 points. EU Manufacturing PMI grew from 46.3 to 47.8 points, and Services PMI decreased from 52.8 to 52.2 points. European business became more optimistic after the signing of a trade deal between the US and China, although the threat of a new trade conflict between the EU and the US remains. Yesterday, German Finance Minister Olaf Scholz said that he was looking at US-European trade relations without pessimism because he considered the conclusion of free trade agreements and digital taxes quite real.

Oil prices are under pressure due to concerns of lower energy consumption by China due to the spread of the new deadly coronavirus. Yesterday’s EIA report could not support the quotes, since the volume of reserves reduction was insignificant, only 0.405 million barrels. In the evening, the publication of the US Baker Hughes Oil Rig Count report is expected. Previously, the number increased from 659 to 673 units. Continuation of this trend can put additional pressure on the quotes.

Disney Stock Support and Resistance

After reaching the nearest resistance at the level of 150.00, Disney stock moved into the correction phase, which develops as part of the classic “flag” pattern. If this pattern is realized, global growth will continue. The range of indicators is too narrow to give accented signals, and they uncertain. It is better to wait for signals from the price. We are long term “Bullish” on Disney stock. Please see the 4 hour Moving averages.
Resistance levels: 146.00, 153.00.
Support levels: 138.50, 127.00.

Disney Stock Price 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

Disney Stock 1 Hour Moving Averages – Sell

Name Value Action
Exponential Moving Average (5) 143.54 Sell
Simple Moving Average (5) 143.84 Sell
Exponential Moving Average (10) 144.12 Sell
Simple Moving Average (10) 144.21 Sell
Exponential Moving Average (20) 144.74 Sell
Simple Moving Average (20) 144.93 Sell
Exponential Moving Average (30) 144.78 Sell
Simple Moving Average (30) 145.56 Sell
Exponential Moving Average (50) 143.91 Sell
Simple Moving Average (50) 146.28 Sell
Exponential Moving Average (100) 141.22 Buy
Simple Moving Average (100) 139.46 Buy
Exponential Moving Average (200) 136.11 Buy
Simple Moving Average (200) 138.15 Buy
Ichimoku Cloud Base Line (9, 26, 52, 26) 144.65 Neutral
Volume Weighted Moving Average (20) 144.86 Sell
Hull Moving Average (9) 143.22 Sell

Disney Stock 1 Day Moving Averages – Strong Buy

Name Value Action
Exponential Moving Average (5) 144.22 Sell
Simple Moving Average (5) 144.68 Sell
Exponential Moving Average (10) 143.97 Sell
Simple Moving Average (10) 146.42 Sell
Exponential Moving Average (20) 141.77 Buy
Simple Moving Average (20) 140.10 Buy
Exponential Moving Average (30) 139.39 Buy
Simple Moving Average (30) 139.92 Buy
Exponential Moving Average (50) 134.71 Buy
Simple Moving Average (50) 134.66 Buy
Exponential Moving Average (100) 125.99 Buy
Simple Moving Average (100) 121.64 Buy
Exponential Moving Average (200) 115.06 Buy
Simple Moving Average (200) 112.40 Buy
Ichimoku Cloud Base Line (9, 26, 52, 26) 140.48 Neutral
Volume Weighted Moving Average (20) 140.56 Buy
Hull Moving Average (9) 143.34 Sell

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