A quick look at yesterday: pronounced bullish sentiment in the market helped the entertainment giant to make a notable 1.37% gain yesterday, rising $1.28 and ultimately closing at $94.66.
United States Consumer Price Index is next today at 13:30 UTC.
Meanwhile, United States Federal Budget Balance (Nov) released yesterday at 19:00 UTC with a figure of -249 billion, while the previous figure was -88 billion. United States 10-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.625, while the previous figure was 4.14. United States 3-Year Note Auction released yesterday at 16:30 UTC with a figure of 4.093, while the previous figure was 4.605.
Walt Disney could be slowing down soon as it approaches resistance at $95.34. Of course, crossing it might suggest further gains are ahead. Despite posting gains on yesterday, Walt Disney slid below its 5 day Simple Moving Average at $93.26 during the last session — an early indicator that a negative trend could be emerging.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Walt Disney is set for a reversal in the coming days.
A look at other consumer discretionary stocks also showed bullish price action as Nike gained 2.42%, as it traded at $112.07. McDonald's traded at $276.62 after closing yesterday's trading day at $272.04 (up 1.68%).
Walt Disney went up yesterday, yet these consumer discretionary stocks did not follow — Tesla dips 6.27% yesterday to close at $179.05.
Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with -3.91 million. It previously stood at -5.19 million; data will be released tomorrow at 15:30 UTC.
The market is looking forward to the release of new data: United States Consumer Price Index figure is projected at 0.3%. It previously stood at 0.4%; data will be released today at 13:30 UTC. United States Interest Rate figure is projected at 4.5. It previously stood at four; data will be released tomorrow at 19:00 UTC.
The entertainment giant has shed 18.88% over the past three months.