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Walt Disney - Weekly

Chart & Data from IG

By Minipip
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Disney's stock price now approaching another key level sitting at $84.07. A break below could see the price fall to as low as $79.08 a share.

Taking a look at Walt Disney as its stock price has been falling ever since its earnings report at the start of May. At the moment, its share price sits around $87.67 a share. We can see that it is now approaching another key support level at $84.07 (red trendline), after breaking through the previous one of $90.48 (white trendline). A dip below $84.07 could see the price fall even lower to as low as  $79.08 a share. Towards the upside, the previous support level of $90.48 is now acting as resistance. A move above this price level may see a further rise towards $97.96 and then $100.30. Only a break above $100.30 could see an attempt at the tough level sitting at $106.41 (oval). However, this is only more likely in the longer-term outlook. Looking at the technical indicators, MACD is negative and so is the RSI as it reads 37.

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