DIS finds support at 20-day moving average


The Walt Disney Company (DIS) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
DIS finds support at 20-day moving average
DIS breaks below previous session low
DIS falls to lowest close since July 30th
TQ Sentiment
Report Sentiment: 40% Bullish
Technical Forecast:
Overview

DIS finished the week -1.24% lower at 112.68 after losing $1.48 (-1.3%) today. Today's closing price of 112.68 marks the lowest close since July 30th. Closing below Thursday's low at 112.81, Disney confirms its breakout through the previous session's low having traded $0.41 below it intraday.

Daily chart for DIS
Volatility

Friday's trading range was $1.40 (1.23%), that's below last trading month's daily average range of $1.86. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to a key support level at 111.89. After trading as low as 112.40 during the day, the share found support at the 20-day moving average at 112.66.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Selling could accelerate should prices move below the nearby swing low at 111.68 where further sell stops might get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for The Walt Disney Company
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Black Candle TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bearish Short Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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