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June 26, 2023
Friday at a glance: the entertainment giant has recovered almost all of its session losses after dipping down to $87.61 Friday.
Walt Disney could begin to recover as it approaches significant support, now 85 cents away from $87.25. Dipping below could be an indication that further losses are ahead. Walt Disney's lower Bollinger Band® is at $86.43, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Technical analysis indicates that Walt Disney (currently on a downtrend) might reverse course and start pointing upward in the short term.
Walt Disney was not the only decliner in the consumer discretionary sector; Toyota drops 2.37% Friday to close at $157.11. Starbucks lost 2.49% Friday and closed at $98.34. McDonald's went down to $289.91, losing 1.16% after it closed at $293.3 Friday.
Some optimism can drawn from the fact that United States Consumer Confidence is projected to outperform its last figure with 104, having previously been at 102.3. The figure will be published tomorrow at 14:00 UTC.
Furthermore, United States Building Permits scheduled to come out tomorrow at 12:00 UTC. United States New Home Sales (May) will be released tomorrow at 14:00 UTC.
Having soared to a high of $124.96 approximately 10 months ago, the entertainment and content production company is now trading 29.19% lower.
