Photo by Brian McGowan on Unsplash

Today’s instrument is the Walt Disney Co.’s stock traded in the NYSE exchange under the ticker (DIS). 

When we look at the DIS‘s chart, we see its fall into the $141 range on the 4th of February, the formation of support at $139, and the subsequent rise in the $143 range. During yesterday’s session, it broke out from the $144 previous overhead resistance and run well into the $148. 

Walt Disney Co. had scheduled a quarterly earnings announcement yesterday 09/02/2022 during aftermarket hours, where they reported higher than expected earnings beating the estimates. It was last found trading at $147.22 with the closest overhead resistance of $151 and the closest support level at $143.

Today we can expect a move towards $151 resistance and possibly further into the $157 due to the positive news.

If however, it doesn’t manage to hold on to the current level then a move towards the $143 support can be expected.

(Click on image to enlarge)