Walt Disney quotes continue to move within the correction and have left the limits of the bullish channel. Moving averages indicate the presence of a short-term bearish trend for DIS. Prices are testing the area between the signal lines, which indicates pressure from sellers of securities. At the time of publication of the forecast, the value of Walt Disney shares is 173.08. As part of the forecast, we should expect an attempt to develop a price rise and a test of the resistance level near the area of 180.00. Then, a rebound and a continuation of the fall in the value of securities. The potential target of such a movement is the area below the level of 140.00.
An additional signal in favor of a drop in Walt Disney quotes will be a test of the resistance line on the relative strength indicator (RSI), as we can see, the price often falls at the time of the test of this line. The second signal will be a rebound from the lower border of the ascending channel. The cancellation of the option of falling quotations of the Walt Disney company's stock price will be a strong growth and a breakdown of the 195.00 level. This will indicate a breakdown of the resistance area and the continuation of the rise to the area at the level of 225.00. We should expect an acceleration in the fall of stocks with a breakdown of the support area and a close below the level of 160.55, as we can see, so far the bears have not managed to break through this level for the second time in a row.
Walt Disney shares forecast for July and August 2021
Thus, the Walt Disney shares forecast for July and August 2021 suggests the development of a correction and a test of the resistance area near the level of 180.00. Where should we expect a rebound and an attempt to continue the pair's fall to the area below the level of 140.00. The trend line test on the relative strength indicator will be in favor of the fall of the currency pair. The cancellation of the DIS reduction option will be a strong growth and a breakdown of the 195.00 level. This will indicate a breakdown of the resistance and the continuation of the price's rise to the area above the level of 225.00.