Stable at $99.97 and still trending upwards, Thursday's session put the brakes on the ongoing uptrend — after dropping down to $98.55, the entertainment and content production company recovers some losses and is currently trading at $99.97.
This uncertain state for Walt Disney is reflected by published market data as highly important Unemployment Rate data from United States beat analyst expectations of 3.6 with a reading of 3.5. United States Non Farm Payrolls fell short of the 239,000 projections, with new data of 236,000. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 226,100, while the previous figure was 181,100.
Trend-following investors would be interested to note that Walt Disney made an initial breakout above its 5 day Simple Moving Average at $99.49, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Walt Disney's upper Bollinger Band® is at $101.66, suggesting that a downward move may follow. Analysis of Walt Disney's recent price action suggests Walt Disney bounced after reaching the $98.91 support zone, climbing $1.06 above it.
Notwithstanding Walt Disney's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Meanwhile, mixed performances were seen by other consumer discretionary stocks as Alibaba was up 4.25%. Toyota lost 1.1% Thursday and closed at $138.87.
Walt Disney hit a significant low of $84.17 around 3 months ago, but has since recovered 18.7%.