American Stocks Analysis

Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.

Disney buoyed by current resistance - Analysis - 01-06-2020

Economies.com
2020-06-01 11:46AM UTC

Disney's stock rose 0.47% in the last session after leaning on the support of 116.16, representing the ratio 50% of Fibonacci retracement for a descending wave in the medium term (from 153.35 to 79.02), while trading alongside the upward trend line with support from the 50-day SMA, countered by negative signals from the RSI. 

 

Therefore we expect more gains for the stock, targeting the next resistance at 125.02, representing the ratio 61.8%, provided the support of 116.16 holds on. 

 

Expected trend for today: Bullish 

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