Walt Disney is in the midst of a 5 day downtrend. Today's positive session could indicate a brief correction amid a broader downtrend, or, the start of a potential reversal. After closing the previous trading day at $99.58, Walt Disney is up to $100.12, which makes for a move of 0.54%/54 cents today.
Although up today, early price action saw Walt Disney dropping below its 21 day Simple Moving Average at $100 — an early indicator that a new downward trend could be emerging. Although Walt Disney is appreciating today after rising as high as $101.55, price action is now slowing and consolidating around $2.55 below the $102.67 resistance level.
Overall, looking at the technical analysis landscape, it seems Walt Disney is likely to reverse course and start pointing down in the short term.
At the same time, Nike is down to $94.14, losing 1.72%, after ending Friday at $95.79. Tesla is trading around $202.37 (down 2.46%).
Elsewhere, United States EIA Short-Term Energy Outlook scheduled to come out tomorrow at 17:00 UTC.
11 months ago the entertainment giant reached a significant high of $176.87 but has consequently lost 43.7% since then.