Walt Disney suffers from negative pressure - Analysis - 23-06-2017

Walt Disney's stock (DIS) returned lower in the intraday levels, registering a loss of 0.55% in the last session, or 0.58 points, as the stock settles below 106.25, which represents the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the short term (from 90.37 to 116.10), with negative signals from relative power indicators, coupled with negative pressure from the 50-day SMA. 

Therefore we expect more losses for the stock, as long as the resistance of 106.25 holds on, targeting the support of 103.21, which represents the ratio 50% of the same retracement levels.