Disney stock price ended on $121.57 on Friday after gaining 3.3%StockInvest.us, 1 month ago
The Disney stock price gained 3.30% on the last trading day (Friday, 12th Aug 2022), rising from $117.69 to $121.57. , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.26% from a day low at $118.92 to a day high of $121.61. The price has risen in 6 of the last 10 days and is up by 14.58% over the past 2 weeks. Volume fell on the last day by -28 million shares and in total, 22 million shares were bought and sold for approximately $2.67 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The last rating was given by Credit Suisse on Aug 11, 2022. The price target was changed from 170 to 157.Over the last 90 days, this security got 6 buy, 14 sell, and 1 hold ratings.
Given the current horizontal trend, you can expect Disney stock with a 90% probability to be traded between $94.11 and $123.65 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Mostly positive signals in the chart today. The Disney stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $111.95 and $101.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, July 14, 2022, and so far it has risen 32.37%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Disney finds support from accumulated volume at $117.69 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 $2.69 between high and low, or 2.26%. For the last week, the stock has had a daily average volatility of 2.99%.
The Disney stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Disney holds several positive signals and is considered to be a good choice at current levels. We expect the Disney stock to perform great in the short-term period.Check full Disney forecast and analysis here.