3 key levels to watch on the Disney stock chart
Walt Disney Co. SAY the stock appears to be approaching a support zone and might be worth checking out.
Here are some technical levels on the daily chart to watch.
Disney Daily Chart Analysis: The daily chart above shows that there are three potentially key levels in Disney stock.
- The first level is the one that is approaching soon, the $185 mark. This level was previously resistance as the stock struggled to break through. The stock then retested this area as support and may now retest it again as support going forward.
- If Disney stock is unable to sustain this level, the stock may not find more support until it approaches $170.
- The headline shows that it has recently struggled to break above the $200 mark. This price level can also act as resistance going forward.
The stock is trading above the 200-day moving average, indicating that the stock’s sentiment is bullish. This indicator can also serve as a support in the future.
See also: How to Buy Disney Stock
And after: Bullish technical traders would like to see the stock rebound near the $185 level and start building higher lows up to the $200 level. The bulls would like to see the $200 level break and the action consolidate above before the price sees another push higher.
Bearish technical traders would like to see the stock fall to the support level and consolidate before it falls to the $170 support level. Should the stock fall to $170 and consolidate, a downward push could see it drop near the 200-day moving average.