Bearish Moving Average Cross by Walt Disney (DIS)
Today, shares of Walt Disney (NYSE:DIS) have crossed bearishly below their 10-day moving average of $91.49 on a volume of 2.6 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Walt Disney has traded in a range of $86.25 to $122.08 and is now at $90.78, 5% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.7%.
SmarTrend recommended that its subscribers protect gains by selling shares of Walt Disney on May 19th, 2016 by issuing a Downtrend alert when the shares were trading at $98.06. Since that call, shares of Walt Disney have fallen 6.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses Walt Disney