Solid News

The Walt Disney Co., Technical Analysis

9/7/2022 12:43 PM

Shares of The Walt Disney Co., the leader in the global entertainment industry, are on a corrective downtrend at 110.00.

On the daily chart, the quotes have left the global downwards channel with dynamic boundaries 80.00–108.00, having overcome the resistance line at 107.00 with a gap that can be worked out this week.

On the four-hour chart, it can be seen that despite the working out of the price gap of 108.00–117.00, the downside movement potential is limited. The most promising at the moment looks like a possible reversal and subsequent growth of the asset with the consolidation above the initial correction level of 23.6% Fibonacci around 117.00.

Technical indicators hold a buy signal despite a significant slowdown: indicator Alligator’s EMA oscillation range actively narrows, and the histogram of the AO oscillator is forming bars with a downward trend in the buying zone.

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