Disney Stock Price Prediction: DIS Gains Momentum, Results Ahead?

• Disney stock price surged 0.16% in the last trading session and is currently trading at $89.03.
• Walt Disney share price (NYSE: DIS) is expensive based on its Price-To-Earnings Ratio (39.5x) compared to the peer average (34.7x).

The Walt Disney Company is a global entertainment company that has two segments, Disney Media and Entertainment Distribution; and Disney Parks, Experiences, and Products. The company makes and distributes film and TV content through its networks, such as ABC, Disney, Fox, National Geographic, and Star; and studios, such as Walt Disney Pictures, Marvel, and Searchlight Pictures.

Walt Disney’s share price is currently trading at $89.03, inclining 0.16% in the last trading session. Disney stock holds a market cap of $167.2 Billion. It has a total of 1.8 Billion shares outstanding. The PE ratio for the stock is 39.5. The price-to-sales ratio for the stock is 1.90.

Disney stock derivatives data states that the current Implied volatility in the market is 35.28% with an increment of 0.72% in the last trading session. It has a total of 1.57 Million open interest contracts as of now. The PUT/CALL ratio is 0.65 indicating a bearish sentiment coming to an end as PCR is bottoming out.

Disney Stock Price Prediction Using Price Action Strategy

Walt Disney share price analysis reveals that the stock was in a correction phase after the last quarter result disclosure in May 2023. The price formed a lower low and declined nearly 18% in the past 3 months. The price also suffered rejection from trendline resistance.

Recently, Walt Disney is going to disclose its quarterly results whose effect can be observed in the DIS stock price. Recently, the price has bottomed out with a hike of nearly 6% in the past 3 trading sessions. Currently, the stock has closed near the trendline.

Now, if the stock shows a flat or slightly gap up opening in the next session and breaks and sustains above the trendline the stock may get the attention of investors and surge higher.

Disney Share Price Forecast from Indicators’ point of view

As per the EMA analysis, the Disney stock price is trading near 50 EMA. if the stock breaks and sustains above 50 EMA then the stock may surge to 200 EMA which may act as a resistance for the market.

At the time of publishing, the RSI value of the Disney share price is 53.61 and that of the SMA line is 42. RSI is showing a bullish divergence which signals the possible momentum gain in the stock price.

Conclusion

Disney stock price prediction concludes that the price was in a correction phase after the last quarter result disclosure in May 2023. The price declined nearly 18% in the past 3 months suffering rejections from the trendline resistance. Currently, the price has bottomed out and sustained near the trendline after the breakout of which the price may surge higher. The indicators are also leaving a positive note about the current sentiment in the market. Also, the results are awaiting which may affect the price to surge higher before the disclosure of the results.

Technical Levels

• Support levels: $87.03 and $84.77.
• Resistance levels: $90.87 and $95.03.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.