Shares of Walt Disney (NYSE: DIS) were up +$1.24 (1.45 %) to $87.02 on Tuesday, December 21, although they are down a further -$7.50 (-7.93%) over the past five trading days.
In spite of insider selling at a rate of over 84% at the time of publication, Disney stock continues to be one of the market’s most actively traded firms, leaving investors to wonder where it will end the year. Interestingly, Coin Price Forecast, a machine self-learning algorithm, predicts that the DIS stock price will climb by the end of the year.
Disney began trading in 2022 at $154.89, now trading at $8702; its price has dropped by -44% from the start of the year. However, the projected DIS price for December 30, 2022, is $91.99, a +6% increase from now to year-end, meaning a -41% year-to-year decline if it transpires.
Notably, the price of Walt Disney is predicted to increase to $113.92, a +31% increase from its current price, by the end of 2023.
DIS chart analysis
DIS stock does not present a quality setup at the moment as price movement has been a little bit too volatile to find a solid entry and exit point, so it is probably a good idea to wait for a consolidation first.
In the last month, Disney has been changing hands in the $85.41 – $99.81 range, and it is currently trading near the lows of this area. Prices have been falling strongly lately; thus it is prudent to avoid new long positions here.
The first resistance zone ranging from $91.32 to $91.50, is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Furthermore, the technical analysis (TA) for DIS stock on the 1-day gauges is bearish as the summary gauge points to a ‘sell’ sentiment at 14 while moving averages (MA) suggest a ‘strong sell’ at 13. Elsewhere, the oscillators gauge points to ‘buy’ at 3, according to the data obtained from the market analytics platform TradingView.
The short-term technical analysis may be bearish, but 28 Wall Street analysts have given the stock a ‘strong buy’ recommendation in the past three months. Specifically, 23 analysts collectively recommend buying the stock, and five recommend holding, with none of the industry experts advocating selling the stock.
Disney has an average 1-year price projection of $119.60, according to the 25 analysts that follow the company and issue forecasts; this objective represents a 37.44% upside from its current price. Meanwhile, the highest possible estimate is $145, and the lowest possible estimate is $94.
The latest quarterly results saw Disney miss expectations for sales and profits, with the park and media divisions missing estimates.
However, with its share price close to the lows of the 2020 Covid market crash, investors last month were seemingly excited about Bob Iger’s reappointment as CEO, hoping he can steady the ship with its theme park initiatives and its media operations.
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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.