Disney in Downward Trend, Testing Support Levels
15 Jun 2023
DISNEY WEEKLY SCENARIO
DISNEY TECHNICAL ANALYSIS: WEEKLY CHART
In the weekly chart, Disney is trading in the down channel.
Disney is currently trading below 20&50 SMA.
RSI is in buying zone, which shows bullishness. Stochastic is suggesting an up trend.
Its immediate support is at 90.32 & the resistance is at 92.95
Disney is consistently trading downward and following a lower-bottom structure on the weekly chart. Price is currently trading at a critical support level; if this level is broken, further decline is expected. Price attempted to go upward, but it was unable to continue the upward movement, thus it began dropping again.
DISNEY TECHNICAL ANALYSIS: DAILY CHART
In the daily chart, Disney is trading in a down channel.
Disney is currently trading below 5&50 SMA.
RSI is in Buying zone, which shows bullishness. Stochastic is suggesting a downtrend.
Its immediate support is at 92.21 & the resistance is at 93.68
Disney is trading in a down channel on the daily chart and made a bearish engulfing at the 38% Fibonacci level. Price has already crossed through its previous low and is trading at a crucial support level; if this level is broken, more decline is expected.