The Walt Disney Co. Technical analysis for May 26, 2023

, one of the leaders of the world entertainment industry, are moving in a corrective trend at the level of 88.00. On the daily chart, the price is trading in a global sideways corridor with the boundaries of 78.00-116.00, forming a descending wave.

On the four-hour timeframe it can be seen that the local upward channel with the boundaries of 99.00-107.00 has broken, and the quotes have overcome the support line with the price gap of 101.00-95.00, continuing the movement to the December minimum of 85.00. In case of consolidation below this mark, the price will have practically no obstacles on the way to the support line at 78.00.

Technical indicators hold a stable sell signal: the fast EMAs on the alligator indicator are moving away from the signal line, and the AO histogram is forming descending bars, dropping in the sell zone.

Short positions can be opened after a decline and price consolidation below the level of 85.00 with a target of 78.00. Stop-loss - 90.00. Term of realization: 7 days and more.

Long positions can be opened after reversal, growth and price consolidation above the level of 91.50 with the target of 101.00. Stop-loss - 90.00.