Shares in The Walt Disney Company (DIS) were treading water to start the week ahead of the entertainment giant's earnings report, due for release before Wedn🌱esday’s opening bell.

Wall Street coverage remains mostly bullish on the stock, with analysts at UBS expecting resilience in the company’s theme parks, new cruise ship and sports advertising to underpin fiscal second quarter results. However, the bank cautioned that 澳洲幸运5开奖号码历史查询:recession risks could slow revenue.

Disney shares are nearly 16% above last month’s low, though they remain down about 17% since the start of the year, amid concerns about the impact of tariffs on 澳洲幸运5开奖号码历史查询:consumer spending and incr💧easing competition in streaming services af🃏fecting Disney+ subscriber growth.

Below, we take a closer look at Disney’s chart and apply 澳洲幸运5开奖号码历史查询:technical analysis toꦐ p🍷oint out crucial price levels that investors will likely be watching.

Descending Channel 

After reaching a two-year high in March last year, Disney shares have oscillated within an orderly 澳洲幸运5开奖号码历史查询:descending channel, tagging the pattern’s 𝓰upper and lower tren𓆏dlines on several occasions since that time.

More recently, the stock’s price has rallied from the lower range of the pattern but remains below both the 50- and 澳洲幸运5开奖号码历史查询:200-day moving averages, which formed an ominous 澳洲幸运5开奖号码历史查询:death cross last month. Meanwhile, the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) reclaimed the 50 threshold last week to signal improving moment🌠um ahead of the compa🔴ny’s quarterly results.

Amid conflicting 澳洲幸运5开奖号码历史查询:technical signals, let’s identify crucial 澳洲幸运5开奖号码历史查询:support and resistance levels on Disney’s chart.

Crucial Support Levels to Watch

Pre-earnings selling could see a fall to around $85. This area on the chart may provide support near a trendline that connects the mid-April dip, last year’s August 澳洲幸运5开奖号码历史查询:swing low, and a brief period of 澳洲幸运5开奖号码历史查询:consolidation that preceded the stock’s November 2023 gap.

The bulls' failure to defend this level opens the door for a decline to $79, currently just below the descending channel’s lower trendline. Investors may seek buying opportunities at this location near several troughs that developed on the chart in October 2023.

Key Resistance Levels to Monitor

Further buying ahead of the company’s results could see a climb toward the 澳洲幸运5开奖号码历史查询:psychological $100 level. The shares may run into selling pressure in this region near the 200-day MA and a 澳洲幸运5开奖号码历史查询:horizontal line ꦫthat links a range of corresponding trading activity on the char🙈t stretching back to February last year.

Finally, a close above this level may propel a move to $107. Investors could decide to 澳洲幸运5开奖号码历史查询:lock in profits in this area near a trendline that connects a series of tro🍸ughs that formed o💖n Disney's chart between February last year and January this year.

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