Disney Stock Forecast
Disney stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 22, 2024)
The Disney stock price fell by -0.551% on the last day (Monday, 22nd Apr 2024) from $112.61 to $111.99. During the last trading day the stock fluctuated 1.69% from a day low at $111.75 to a day high of $113.64. The price has fallen in 7 of the last 10 days and is down by -4.57% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 5 million shares were bought and sold for approximately $588.31 million.
Given the current short-term trend, the stock is expected to rise 20.20% during the next 3 months and, with a 90% probability hold a price between $134.61 and $153.45 at the end of this 3-month period.
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DIS Signals & Forecast
There are few to no technical positive signals at the moment. The Disney stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $112.97 and $115.36. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -8.82%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Disney stock
Disney finds support from accumulated volume at $110.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.89 between high and low, or 1.69%. For the last week, the stock has had daily average volatility of 1.58%.
Disney is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $105.61 (-5.70%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 18 which reduces the risk some. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (DIS) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Walt Disney Company (The) to open at $112.46, and during the day (based on 14 day Average True Range), to move between $109.75 and $114.23, which gives a possible trading interval of +/-$2.24 (+/-2.00%) up or down from last closing price. If Walt Disney Company (The) takes out the full calculated possible swing range there will be an estimated 3.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $112.87 (0.79%) than the support at $110.54 (1.29%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Walt Disney Company (The) stock A Buy?
Disney holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.595 Hold/Accumulate Upgraded
Predicted Opening Price for Walt Disney Company (The) of Tuesday, April 23, 2024
Fair opening price April 23, 2024 | Current price |
---|---|
$112.46 ( 0.420%) | $111.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DIS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 114.35 | 2.11 % | |
R2 | 113.63 | 1.46 % | ||
R1 | 113.18 | 1.06 % | ||
Current price: | 111.99 | |||
Support | S1 | 111.74 | -0.225 % | |
S2 | 111.29 | -0.623 % | ||
S3 | 110.57 | -1.27 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 122.82 | 9.67 % | |
R2 | 118.98 | 6.24 % | ||
R1 | 112.87 | 0.786 % | ||
Current price | 111.99 | |||
Support | S1 | 110.54 | -1.29% | |
S2 | 108.39 | -3.21% | ||
S3 | 99.14 | -11.47% |
DIS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 07, 2024 | Jul 08, 2024 | Jul 25, 2024 | $0.450 | 0.402% |
2 | Feb 07, 2024 | Jul 05, 2024 | Jul 25, 2024 | $0.450 | 0.402% |
3 | Nov 30, 2023 | Dec 08, 2023 | Jan 10, 2024 | $0.300 | 0.336% |
4 | Dec 04, 2019 | Dec 13, 2019 | Jan 16, 2020 | $0.88 | 0.606% |
5 | Jun 26, 2019 | Jul 05, 2019 | Jul 25, 2019 | $0.88 | 0.614% |
FAQ
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