Today’s instrument is the Walt Disney Co. stock traded in the NYSE exchange under the ticker DIS.
Image Source: Pixabay
If we look at the DIS Weekly chart, we can see the gap up of November 5th set things in motion, moving from the $170 to the $174 price range, reaching momentarily the $179 but failing to hold on and then return to $175 forming support at $174. Its last traded price was $175, with overhead resistance of $179.
Walt Disney Co. had scheduled a third-quarter earnings announcement today 10/11/2021. If earning expectations are surpassed, we could expect the price to move upwards, towards the $180 price range.
Today we could expect a move upwards near the $179 price range.
If however, it doesn’t manage to hold above the current price range of $175 then a case can be made for moving towards and below the $174 support level.
(Click on image to enlarge)
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