Disney - Weekly - the stock still holds the range with further support down to $163.

The Walt Disney Company (NYSE:”DIS”) is a US based mass media company. The pandemic allowed for the rise of Disney Plus+ which has helped cushion revenue drops from the loss in park and merchandise revenue. Now that parks are reopening revenue should increase, along with profit and thus the share price. The price of Disney fell hard yesterday as the CEO said that Disney+ subscriber growth is lower than expect and that the pandemic will delay some of their upcoming title releases.

From A technical aspect Disney is still rangebound, trading at the lower range. This could provide a good buying opportunity for the stock. Support sits at the lowest point of $169. A clear break here takes Disney towards $165, then to $163 where the long term trendline comes into play. To the upside targets are $180 followed by $187. $187 will be tough to crack, but when it does Disney could head towards the highs of $205.