3 Key Levels To Watch On Disney's Stock Chart

Walt Disney Co. DIS stock looks to be nearing an area of support and could be worth checking out.

Here are some technical levels on the daily chart to look at.

Disney Daily Chart Analysis: The daily chart above shows there are three potentially key levels on Disney stock.

• The first level is one it's approaching soon, the $185 mark. This level was previously resistance as the stock struggled to cross above it. The stock then retested this area as support and now may retest it again as support in the future.
• If Disney's stock is unable to hold this level, the stock might not find more support until it approaches $170.
• The stock is showing that it has had trouble recently getting above the $200 mark. This price level may also hold as resistance in the future.

The stock is trading above the 200-day moving average, indicating the sentiment of the stock is bullish. This indicator may also hold as support in the future.

See also: How to Buy Disney Stock

What's Next: Bullish technical traders would like to see the stock bounce near the $185 level and begin to build higher lows up to the $200 level. Bulls would like to see the $200 level break and the stock consolidate above before the price may see another push higher.

Bearish technical traders would like to see the stock fall through the support level and consolidate before it may fall to the $170 support level. If the stock were to fall through $170 and consolidate, a push lower could see it fall to near the 200-day moving average.