| 
March 02, 2023
An 11 day downtrend is ongoing for Walt Disney. Today may indicate a change of direction; Walt Disney recovered from the previous trading session's losses and went up to $98.92 today after it traded lower at $97.42.
Walt Disney's uptick comes amid good United States macroeconomic data released during the day — United States Initial Jobless Claims improved upon its previous reading of 192,000 with a new data release of 190,000. United States Crude Oil Inventories beat the 457,000 projections, with 1.17 million.
At the same time, United States ISM Manufacturing PMI (Feb) released yesterday at 15:00 UTC with a figure of 47.7, while the previous figure was 47.4.
Support/Resistance levels obtained from chart analysis indicate that Walt Disney could be slowing down soon as it approaches resistance at $99.67. Of course, crossing it might suggest further gains are ahead.
This rally in Walt Disney's share price coincided with other consumer discretionary stocks as McDonald's was up 1.85%.
While Walt Disney was bullish today, the following consumer discretionary stocks underperformed: Tesla went down 5.85%, closed at $202.77.
Elsewhere, United States ISM Non-Manufacturing PMI (Feb) will be released tomorrow at 15:00 UTC.
The entertainment and content production company is up 17.07% from the significant low of $84.17 it hit 2 months ago.
