The Walt Disney Company Stock Forecast
Red day on Tuesday for The Walt Disney Company stock after losing 0%
(Updated on Jun 04, 2024)
No changes to the price of The Walt Disney Company stock on the last trading day (Tuesday, 4th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at £0.462 to a day high of £0.462. The price has been going up and down for this period, and there has been a -16% loss for the last 2 weeks.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £0.450 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect The Walt Disney Company stock with a 90% probability to be traded between £0.448 and £0.654 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.
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DIS.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The The Walt Disney Company 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 £0.464 and £0.548. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for The Walt Disney Company stock
The Walt Disney Company finds support from accumulated volume at £0.456 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 6.96%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DIS.L) For The Upcoming Trading Day Of Wednesday 5th
For the upcoming trading day on Wednesday, 5th we expect The Walt Disney Company to open at £0.462, and during the day (based on 14 day Average True Range), to move between £0.414 and £0.510, which gives a possible trading interval of +/-£0.0480 (+/-10.40%) up or down from last closing price. If The Walt Disney Company takes out the full calculated possible swing range there will be an estimated 20.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.456 (1.41%) than the resistance at £0.475 (2.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Walt Disney Company stock A Buy?
The Walt Disney Company holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.885 Sell Candidate Unchanged
Predicted Opening Price for The Walt Disney Company of Wednesday, June 5, 2024
| Fair opening price June 5, 2024 | Current price |
|---|---|
| £0.462 ( 0%) | £0.462 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DIS.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.462 | - |
| R2 | 0.462 | - |
| R1 | 0.462 | - |
| Price | 0.462 | |
| S1 | 0.462 | - |
| S2 | 0.462 | - |
| S3 | 0.462 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.575 | 24.46% |
| R2 | 0.550 | 19.05% |
| R1 | 0.475 | 2.81% |
| Price | 0.462 | |
| S1 | 0.456 | -1.41% |
| S2 | 0.450 | -2.60% |
| S3 | 0 | - |
FAQ
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