Disney buoyed by current resistance - Analysis - 01-06-2020

Disney's stock rose 0.47% in the last session after leaning on the support of 116.16, representing the ratio 50% of Fibonacci retracement for a descending wave in the medium term (from 153.35 to 79.02), while trading alongside the upward trend line with support from the 50-day SMA, countered by negative signals from the RSI. 

Therefore we expect more gains for the stock, targeting the next resistance at 125.02, representing the ratio 61.8%, provided the support of 116.16 holds on. 

Expected trend for today: Bullish