Walt Disney turns losses into profits - Analysis - 14-06-2018

Walt Disney's stock (DIS) rose in the intraday levels, scoring a profit of 1.90% in the last session, or 1.98 points, after hitting an intraday low at 102.67, bouncing off it higher and turning the losses into gains before the close, with a noticeable rise in trading volumes, coupled with positive pressure from the 50-day SMA. 

Therefore we expect more gains for the stock, as long as the support of 103.80 holds on, representing the ratio 38.2% of Fibonacci retracement levels for a descending wave in the short term (from 116.10 to 96.20), targeting the resistance of 111.40, which represents the ratio 76.8%.