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Walt Disney – Big hurdle ensures profit taking

Shares in the US media group Walt Disney bounce off a medium-term hurdle this week and initially consolidate the previous increase. Particularly noteworthy is the technical evaluability of the course, which adheres very well to the given course brands.

Overall, a long-term upward trend in the Walt disneyShares, but since 2015 the value has not exceeded the $ 122.08 level. Instead, there has been a rough sideways movement underneath in the form of a symmetrical wedge. In early 2019, the group benefited from the launch of its streaming platform, investors took this as an occasion for increased purchases and pushed the paper up to $ 153.41 by the end of the same year. The past corona crash quickly wiped out the efforts of recent years and squeezed Walt Disney back down to a level of around $ 80.00. The paper has recently recovered from these lows, but is now facing the same problem as in previous years – the $ 122.08 hurdle.

Large gap in price still open

For one, the resistance at $ 122.08 and the 38.2% Fibonacci retracement by $ 125.03 block progress Walt disneyShare. The willingness to sell this week reflects a possible start of consolidation, which seems to be appropriate after the rally since mid-March. There is also a large price gap from the beginning of this month, which may be closed in the course of the consolidation. In the further course, this would mean taxes of around 108.00 US dollars. However, if the gap remains intact and the stock can at least grow above $ 127.50, a further wave of recovery could initially spread to $ 134.44. A possible strategy could be Walt Disney intercept at a lower course level and bet on a subsequent climb.

  • Resistances: 118.02; 120.87; 122.08; 125.03; 127.54; $ 132.90
  • Supports: 116.26; 113.42; 111.58; 109.44; 107.50; $ 104.86

Walt Disney in US dollars daily chart; 1 candle = 1 day (log. Candle chart)

Viewing period: 13.06.2019 – 28.05.2020. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de/underlying/US2546871060

Walt Disney in U.S. dollar in weekly chart; 1 candle = 1 week (log. Candle chart)

Observation period: 26.05.2015 – 28.05.2020. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de/underlying/US2546871060

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The contribution Walt Disney – big hurdle ensures profit taking first appeared on onemarket’s blog (HypoVereinsbank – UniCredit Bank AG).

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