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July 03, 2023
A quick look at today: the entertainment giant ended Friday's session at $89.28, spiked up to $90.95 and closed at $90.5 — gaining 1.37% today.
Walt Disney is currently trading at $90.5 following the release of ISM Manufacturing PMI (Jun) data from the United States.
At the same time, United States ISM Manufacturing PMI (Jun) came out at 46, while a consensus of analysts was expecting 47.2. United States ISM Manufacturing Employment (Jun) released today at 14:00 UTC with a figure of 48.1, while the previous figure was 51.4. United States ISM Manufacturing Prices (Jun) released today at 14:00 UTC with a figure of 41.8, while the previous figure was 44.2.
Walt Disney broke through the $89.72 resistance and climbed above it 78 cents; next resistance level is at $90.16. Walt Disney made an initial breakout above its 21 day Simple Moving Average at $90.62, a potential indicator of a newly emerging bullish phase.
Overall, looking at the technical analysis landscape, it seems Walt Disney might continue pointing upwards in the short term.
A look at other consumer discretionary stocks also showed bullish price action as Tesla was up 6.9%.
While Walt Disney was bullish today, the following consumer discretionary stocks underperformed: McDonald's went down to $294.84, losing 1.2% after it closed at $298.41 today. Nike closed at $109.11 (down 1.14%).
The entertainment giant is now trading 10.51% below its 3-month high of $124.96.
