Walt Disney (DIS) stock has surged 29.37% over the past six months. This growth can be attributed to several factors, such as successful content releases and continued subscriber growth of its streaming platform, Disney+. Further, improved theme park performance due to higher international tourism and cost-cutting measures have boosted investor sentiment. It must be noted that technical indicators suggest that DIS stock is a Strong Buy, implying further upside from current levels.
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Analyzing Disney’s Technical Indicators
According to TipRanks’ easy-to-understand technical analysis tool, Disney stock is currently on an upward trend. The stock’s 50-day Exponential Moving Average (EMA) is 109.54, while its price is $113.06, implying a bullish signal. Further, its shorter duration EMA (20 days) also signals an uptrend.
Another technical indicator, Williams %R, helps traders determine if a stock is overbought or oversold. In the case of DIS, Williams %R currently indicates a Buy signal, suggesting that the stock is not overbought and has more room to run.
Further, the Rate of Change (ROC) is a momentum-based technical indicator used to measure the percentage change in stock’s price between the current price and the price from a specific number of periods earlier. Typically, a ROC above zero confirms an uptrend. DIS stock currently has a ROC of 4.06, which signals a Buy.
Is Disney a Buy, Sell, or Hold?
Turning to Wall Street, Disney has a Strong Buy consensus rating based on 18 Buys and five Holds assigned in the last three months. At $126.81, the average Disney price target implies 12.16% upside potential.
