maffex

Previous level of resistance returning for DIS

Short
NYSE:DIS   WALT DISNEY COMPANY (THE)
DIS has crossed below a previous level of support at $120 that existed for about a month (Sept 24 to Oct 26). That level acted as resistance for a month and a half June 16-August 5 2020. MACD is below indicator line and below midline. RSI is below 30%, so we're probably looking at a pullback to the upside as I write this. Whether this will be a rebound or a pause before continued decline remains to be seen, but based on the MACD and the price action, I'm anticipating the latter.

****This information is presented for discussion only and does not represent advice to buy or sell a security.*****

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