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Possible Bearish Inside Day Candle Pattern Detected for Walt Disney Co (NYSE:DIS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Walt Disney Co (NYSE:DIS) based on the price action in the company's shares. Today's price range of $145.51 and $147.20 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Walt Disney Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Walt Disney Co share prices have moved between a 52-week high of $150.63 and a 52-week low of $100.35 and are now trading 45% above that low price at $145.85 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.3%.

The Walt Disney Company is an entertainment company that conducts operations in media networks, studio entertainment, theme parks and resorts, consumer products, and interactive media. The Company produces motion pictures, television programs, and musical recordings, as well as books and magazines.

Walt Disney Co (NYSE:DIS) is currently priced 17.1% above its average consensus analyst price target of $120.95. The stock should find initial support at its 50-day moving average (MA) of $133.14 and further support at its 200-day MA of $130.31.

SmarTrend is tracking the current trend status for Walt Disney Co and will alert subscribers who have DIS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle Walt Disney Co

Ticker(s): DIS