| 
April 10, 2023
A quick look at today: after ending Thursday at $99.97, Walt Disney went up to $100.81 only to drop back, yet still traded well overall and closed at $100.81 today.
Walt Disney made an initial breakout above its 5 day Simple Moving Average at $99.87, a potential indicator of a newly emerging bullish phase. On the other hand, note that Walt Disney is 13 cents away from testing key resistance at $100.68. Peaking above this level could inspire market bulls and open the path to further gains. Bollinger Band® analysis indicates that current price action is approaching the upper band at $101.82, thereby suggesting that Walt Disney is becoming overvalued.
According to technical analysis, it looks as if Walt Disney likely to continue pointing upward in the short term.
This rally in Walt Disney's share price coincided with other consumer discretionary stocks as Nike was up 1.41%. Home Depot traded at $291.17 after closing today's trading day at $288.61 (up 0.89%).
While Walt Disney was bullish today, the following consumer discretionary stocks underperformed: Alibaba went down to $101.54, losing 1.17% after it closed at $102.74 today.
Furthermore, the market is looking at United States EIA Short-Term Energy Outlook will be released tomorrow at 16:00 UTC.
The entertainment giant is up 18.77% from the significant low of $84.17 it hit 3 months ago.
