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Walt Disney (DIS) Breaks Through Support at $105.03

By Shiri Gupta

Walt Disney (NYSE:DIS) has opened bearishly below the pivot of $105.52 today and has reached the first level of support at $105.03. Analysts will be watching for a cross of the next downside pivot targets of $104.70 and $103.88.

In the past 52 weeks, shares of Walt Disney have traded between a low of $86.25 and a high of $122.08 and are now at $105.07, which is 22% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.3%.

Potential upside of 11.2% exists for Walt Disney, based on a current level of $105.07 and analysts' average consensus price target of $116.82. The stock should find initial support at its 200-day moving average (MA) of $104.39 and further support at its 50-day MA of $99.50.

SmarTrend recommended that its subscribers protect gains by selling shares of Walt Disney on May 4th, 2017 by issuing a Downtrend alert when the shares were trading at $110.18. Since that call, shares of Walt Disney have fallen 4.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts Walt Disney

Ticker(s): DIS