Disney stock price forecast bullish after subscriber numbers beat
Technical Analysis Summary Disney: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(200) | Sell | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
The technical analysis of the Disney stock price chart on daily timeframe shows #S-DIS,Daily is rebounding after hitting twenty-four month low a month ago and is rising toward the 200-day moving average MA(200). We believe the bullish momentum will persist after the price breaches above the upper boundary of Donchian channel 123.21. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 105.33. After placing the order, the stop loss is to be moved every day to the next fractal low, 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 (105.33) without reaching the order (123321), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of -
Disney reported higher than expected number of new subscribers for the third quarter. Will the Disney stock price persist advancing?
Disney reported 152.1 million Disney+ subscribers in the three-month period, up 31% over the same period a year ago and above the estimated 148.4 million. The company also reported above-expected revenue at $21.5 billion, up 26% over year and just above the analyst consensus of $21 billion. Several analysts including from Goldman Sachs , Credit Suisse and Guggenheim upgraded Disney’s stock price targets. Higher than forecast subscription is bullish for Disney stock.