The Walt Disney Company Stock Forecast
High volatility in The Walt Disney Company stock price on Wednesday which ended trading at £0.456
(Updated on Mar 27, 2024)
The The Walt Disney Company stock price fell by -20.78% on the last day (Wednesday, 27th Mar 2024) from £0.575 to £0.456. During the last trading day the stock fluctuated 47.25% from a day low at £0.455 to a day high of £0.670. The price has fallen in 5 of the last 10 days and is down by -13.24% 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, 155 thousand shares were bought and sold for approximately £70.62 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -23.66% during the next 3 months and, with a 90% probability hold a price between £0.306 and £0.463 at the end of this 3-month period.
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DIS.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 £0.510 and £0.522. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -20.78%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for The Walt Disney Company stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved £0.215 between high and low, or 47.25%. For the last week the stock has had daily average volatility of 30.93%.
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 Thursday 28th
For the upcoming trading day on Thursday, 28th we expect The Walt Disney Company to open at £0.527, and during the day (based on 14 day Average True Range), to move between £0.378 and £0.533, which gives a possible trading interval of +/-£0.0777 (+/-17.05%) 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 34.09% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £0.475, some £0.0195 (4.28%) from the current price of £0.456, our system finds the risk reward not very attractive.
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.205 Sell Candidate Downgraded
Predicted Opening Price for The Walt Disney Company of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£0.527 ( 15.66%) | £0.456 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 0.742 | 62.86 % | |
R2 | 0.660 | 44.83 % | ||
R1 | 0.609 | 33.69 % | ||
Current price: | 0.456 | |||
Support | S1 | 0.445 | -2.37 % | |
S2 | 0.394 | -13.51 % | ||
S3 | 0.312 | -31.54 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.560 | 22.94 % | |
R2 | 0.500 | 9.77 % | ||
R1 | 0.475 | 4.28 % | ||
Current price | 0.456 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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