- Walt Disney Company (DIS) registers a rise of 6.23% today, reaching highs not seen since May 6.
- DIS reported revenue of $22.6 billion, beating analysts’ projections.
Walt Disney Company shares set a day’s low of $108.40, attracting aggressive buyers who drove the stock price to more than six-month highs of $114.81. Currently, DIS trades above $109.12, gaining 6.23% at market close.
Walt Disney earnings report pushes its stock price to more than six-month highs
Walt Disney Company (DIS) posted revenue of $22.6 billion, above the $22.48 billion expected by the market, as well as earnings per share of $1.14, above the $1.1 projected by consensus.
Following these figures, DIS recorded a rise of 6.23% today, reaching more than six-month highs not seen since May 6 at $114.81. The improvement in the company’s income is largely due to its entertainment division, increasing at a rate of 14% annually.
Technical levels at Walt Disney
DIS stock reacted higher to short-term support given by the October 9 low at $91.46 in convergence with the 23.6% Fibonacci retracement and the 21-period exponential moving average. The next key support level is seen at $83.91, the pivot point of August 8. On the upside, the closest resistance is at 114.81, today’s high that coincides with the 78.6% Fibonacci retracement.
Walt Disney Daily Chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
