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The Walt Disney Co. Trades within the Global Downstream Channel

3/6/2023 2:36 PM

The shares of The Walt Disney Co., one of the leaders in the global entertainment industry, are moving in a corrective trend at 101.10.

After the release of the financial report for the first quarter of 2023, which showed an increase in revenue to 23.51B dollars from 20.15B dollars earlier, as well as earnings per share of 0.99 dollars, which is less than the average profit last year by 1.08 dollars, leading analysts began to talk more and more about the possible sale of one of the streaming services by the company. Analysts at Citigroup Inc. believe that we can talk about the sale of Hulu, in which the corporation controls 67.0% of the shares. According to experts, its value could range from 19.8B dollars to 27.5B dollars, and the deal could cause The Walt Disney Co. shares to rise by 3.0–13.0 dollars. Also, it became known about the possible acquisition of rights to the use of two characters in the Marvel Universe – Hulk and Namor, which are now owned by Comcast Corp., as a result of which the corporation could receive significant profit from the advertising company.

On the daily chart, the trading instrument is moving within the global downward channel with dynamic boundaries of 80.00–114.00, reversing at the resistance line.

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

Resistance levels: 105.00, 115.00. | Support levels: 97.30, 87.00.

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