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March 25, 2023
Yesterday at a glance: during yesterday's session, Walt Disney toiled and struggled for upward momentum before closing at $94.08. By the close, the the entertainment and content production company suffered a $1.75 or 1.83% loss.
The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Walt Disney to extend its recent losses.
Walt Disney was not the only decliner in the consumer discretionary sector; Tesla went down to $190.41, losing 0.94% after it closed at $192.22 yesterday.
On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as McDonald's was up 0.63%. Toyota was up 0.57%.
