Solid News

The Walt Disney Co., Technical Analysis

1/9/2023 10:03 AM

Shares of The Walt Disney Co., one of the leaders in the global entertainment industry, are moving in a corrective trend at 94.00.

On the daily chart, the price is within the global triangle pattern with dynamic boundaries 96.00–84.00, approaching the resistance line at 97.00.

On the four-hour chart, the quotes have retreated a sufficient distance from last year's low at 85.00 and have high prospects for consolidation above the pattern's resistance line and reaching 100.00, the breakout of which will finally form a reversal.

Technical indicators are actively reversing and are ready to give a buy signal: fast EMAs on the alligator indicator are approaching the signal line, and the AO oscillator histogram is growing in the sell zone.

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