Disney stock price forecast bearish despite theme park reopening
Technical Analysis Summary Disney: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
Chart Analysis
The technical analysis of the Disney stock price chart on daily timeframe shows #S-DIS,Daily is retreating after hitting all-time high thirteen-months ago and has fallen under the 200-day moving average MA(200). We believe the bearish momentum will resume after the price breaches below 92.01. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 100.34. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (100.34) without reaching the order (92.01), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of -
Disney reopened its Shanghai Disney Resort theme park and unveiled a new cruise ship. Will the Disney stock price resume advancing?
Disney reopened its Shanghai Disney Resort theme park on June 29. The theme park was closed for three months due to rising coronavirus infections. Park authorities have put restrictions on capacity, and some attractions, such as Marvel Universe, will stay closed. At the same time a first new cruise ship in a decade was unveiled – the Disney Wish, the fifth vessel in Disney’s fleet. The theme parks and cruise businesses are part of the Parks, Experiences & Consumer Products segment that accounted for 34.6% of second-quarter fiscal 2022 revenues. The segment recorded an operating income of $1.75 billion against the year-ago quarter’s operating loss of $406 million as the revenue surged 109.6% over year to $6.65 billion. Rising revenue expectations as restrictions are lifted across the globe are bullish for the stock price. However, the current setup is bearish for the stock.