Disney Stock Forecast

Disney stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)

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 $114.36 and $115.33. 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 -8.46%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.06 (1.84%) between high and low. For the last week, the stock has had daily average volatility of 1.95%.

Disney is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $106.93 (-4.89%) (This stock has low daily movements and this gives low risk. Low RSI14 is 23 which reduces the risk some. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (DIS) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Walt Disney Company (The) to open at $112.96, and during the day (based on 14 day Average True Range), to move between $110.12 and $114.74, which gives a possible trading interval of +/-$2.31 (+/-2.06%) 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 4.11% 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 (0.39%) than the support at $110.54 (1.68%), 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: -0.809 Hold/Accumulate Upgraded

Predicted Opening Price for Walt Disney Company (The) of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.