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.
Walt Disney's stock (DIS) fell in the intraday levels, recording a new loss of 0.11% in the last session, or 0.11 points, and leaning thereafter on the support of 100.16, which represents the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the short term (from 90.32 to 116.10), amid negative pressure from the 50-day SMA, with negative signals from the RSI after reaching extremely overbought levels compared to the stock's movements.
Therefore we expect more losses for the stock, especially if the support of 100.16 was breached, targeting the next one at 96.40, which represents the ratio 76.4% of the same retracement levels.