The shares of Walt Disney (NYSE: DIS) have experienced a sustained downturn, plummeting to $80.98, marking a disheartening decline of $18.08 or 18.25% over the past six months.
For investors who purchased Disney shares a decade ago, in 2013, the situation remains disconcerting, as even when factoring in dividends received, their investment would still be in the red.
Contrastingly, during this same time frame, the broader stock market has exhibited remarkable resilience, surging by 300%.
Picks for you
Esteemed stock market analyst Gurgavin, known for his insights shared on X (formerly Twitter), responded unequivocally when queried about his interest in Disney shares. He firmly asserted that there are far superior opportunities available in the market, offering a more favorable risk-reward profile compared to Disney and the problems it faces.
DIS technical analysis
At present, Disney finds itself in a precarious position, grappling with a litany of issues, with fresh challenges emerging on a weekly basis.
A technical analysis of Disney’s stock further elucidates the grim situation. DIS is presently charting a new low within its 52-week range, a signal rife with negative connotations.
In stark contrast, the S&P500 Index is enjoying robust performance, residing comfortably in the upper echelon of its 52-week spectrum, thereby highlighting Disney’s pronounced underperformance relative to the broader market.
Over the past month, Disney shares have meandered within the broad range of $80.53 to $92.53, depicting considerable volatility. Notably, the current trading price resides perilously close to the lower boundary of this range.
The technical analysis identifies a support zone spanning from $80.97, characterized by the convergence of multiple trend lines across various timeframes.
Conversely, a resistance zone, delineated between $85.30 and $87.04, is marked by the interplay of various trend lines and significant moving averages spanning multiple timeframes.
Go woke go broke ETF
With all the recent controversies surrounding companies like Disney, Target, and Bud Light, one firm decided to take the matter into its own hands — and file for an ETF.
Tuttle Capital Management filed with the Securities and Exchange Commission (SEC) on September 5 for an ETF called Tuttle Capital Inverse Socially Conscious ETF with the ticker GWGB.
This will be an actively managed ETF where the fund will invest in companies that are politically conservative or politically neutral, and by taking short positions in US-listed equity securities that are following “woke” policies.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
