Disney gapped higher yesterday after strong earnings. Uptrend short-term has been established with resistance at around 91.75. The declining 200 daily Moving Average will add to the resistance strength around that level
However, the RSI is back above 60 i.e., showing positive sentiment suggesting higher Disney share price.
Disney has broken its medium-term falling trend line – see weekly chart – and if closing above 92 there is potential to 97-102 area.
However, the gap area 94.80-97.45 is likely to be a struggle. If reached expect a larger correction.
If Disney is sliding back to close below 86.20 the bullish picture is demolished.