Red line- resistance trend line
Blue line- horizontal resistance (previous support)
Disney's stock price is under pressure. Despite the two week pause to the decline, price is showing rejection signs at $85. Price bounced back up towards the blue resistance trend line that was once support. At the same time price got rejected at the red downward sloping resistance trend line. DIS stock price is vulnerable to more downside as long as price remains below the red trend line. Bulls need to recapture $85-$86 in order to reclaim control of the short-term trend.
