Solid News

The Walt Disney Co. Decline within the Local Downstream Channel

11/15/2022 3:14 PM

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

Yesterday it became known that the company is included in the list of American giants who announced job cuts. For example, CEO Bob Chapek, in a letter to top management, said that recruitment for important positions would continue, but for all other vacancies, it should be suspended.

Another negative piece of news came from the streaming segment, with flagship service Disney+ posting a 1.5B dollars loss in the fourth quarter despite growing subscriber numbers, which is attributed to significant increases in maintenance and service costs which Disney+ is planning to pass on to consumers by increasing the cost of the subscription. The global report came in well below expectations, with revenue of 20.15B dollars, lower than the forecast of 21.38B dollars, and earnings per share falling to 0.3 dollars from 1.09 dollars a quarter earlier.

On the daily chart of the asset, the trading instrument is declining within the local downward channel, slightly moving away from the support line.

Technical indicators maintain a sell signal: fast EMAs of the Alligator indicator expand the range of fluctuations, and the AO oscillator histogram forms downward bars in the sell zone.

Resistance levels: 98.10, 108.30. | Support levels: 90.30, 80.10.

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