DIS stuck within tight trading range

The Walt Disney Company (DIS) Technical Analysis Report for Apr 16, 2018

Highlights

DIS closes lower for the 4th day in a row
DIS stuck within tight trading range
DIS falls to lowest close since April 9th
DIS closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 14% Bearish
Technical Forecast:

Overview

Moving lower for the 4th day in a row, DIS ended Monday at 100.24 edging lower $0.11 (-0.11%) on high volume. Today's closing price of 100.24 marks the lowest close since April 9th. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily chart for DIS

Volatility

Monday's trading range was $1.27 (1.26%), that's below last trading month's daily average range of $1.92. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average. Prices continued to consolidate within a tight trading range between 99.68 and 101.52 which it has been in now for the last three days.

Support/Resistance

Prices are trading close to the key resistance level at 101.18.

Trend

Though Walt Disney is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 101.52 where further buy stops might get activated. Selling could speed up should prices move below the close-by swing low at 99.68 where further sell stops might get triggered. With prices trading close to this year's low at 97.70, downside momentum could accelerate should the share break out to new lows for the year. As prices are trading close to April's high at 102.38, upside momentum might speed up should the market mark new highs for the month.

Conclusion

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

Market Conditions for The Walt Disney Company

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