Red line - resistance trend line
Blue line- support trend line
Last week we warned traders that DISNEY stock price was breaking below weekly support. The break below the weekly neckline support around $85 provided a bearish signal and this week's price action confirms it. New weekly lows for DIS stock price. For a straight third week price remains under pressure. DISNEY stock price is vulnerable to a move towards $78 and later towards $68. Bulls need at least to recapture the $89.30 price level.
