Disney Stock Provides Meat For The Bears, Could Fall 6% On A Break Of This Pattern
Portfolio Pulse from Melanie Schaffer
Disney's stock (NYSE:DIS) is experiencing downward pressure, potentially due to weakness in its streaming division amid a SAG-AFTRA union strike and ongoing legal issues. The stock may be settling into a bear flag pattern, suggesting a potential 6% drop towards the $82.50 mark. However, bullish traders may see the stock continue to rise within the channel for a short period.
July 20, 2023 | 9:32 pm
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Disney's stock is under pressure due to potential weakness in its streaming division and ongoing legal issues. The stock may be settling into a bear flag pattern, suggesting a potential 6% drop.
The news directly mentions Disney and discusses potential issues that could negatively impact the stock price. The bear flag pattern suggests a potential drop in the stock price, which could be exacerbated by the ongoing legal issues and potential weakness in the streaming division.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100