Let’s Take A Look At This Entertainment Company’s Chart 
Image source: moneyinc.com
Have you ever been to a Disneyland? If you have then you’ll know how magical it is, how it transport you back to your childhood and those carefree times. Well, I have only been to Disneyland Hong Kong & Shanghai but had such a memorable experience with the fireworks and all. These will stay with me for a long time to come. Kind of miss those times actually. =/
With Covid around, Disneyland seems more of a dream than anything else. When will we be able to experience such innocence and careful times again? Oh wells, we can hope and pray for the time to come! Meanwhile, lets take a look at Walt Disney Co (DIS) chart and see where is it heading to.
Technical Outlook
Chart Source: Poems2.0 21st Oct 2021
We can see that Disney is in a range from around $168 to the upper range of $188. Disney + subscriber growth is slowing and the pandemic continuing to weigh on the crucial theme -park business’ recovery, this stock has lagged the S&P. Analysts are cautious about its earnings coming 10Nov as there is not much near term catalyst. Long term, unless the parks can be open up and crowd returning then Disney could be lifted out of the mud.
For now, Disney would not be a stock we want to hold for the long term until things are clearer. We prefer to trade this counter when it nears the support and exit when it hits the resistance. So the range support is around $168 then $160 and the upper resistance is $182 which is also the downtrend line which we drew. The moving averages are kind of flat now indicating a lack of direction. Remember its earning date and try not to hold over earnings.
To happier times!
Yours
Humbly
Kelwin&Roy
