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) 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.