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Shopify price tries to gather positive momentum – Forecast today

Stock Analysis

Walt Disney Company’s stock price (DIS) inched lower in latest intraday trading, after the pivotal and stubborn resistance of $118.63 held on, with the price trying to gather positive momentum to breach that resistance, while also venting off overbought saturation in the Stochastic as negative signals emerged from it, with ongoing positive support from trading above the 50-day SMA, coupled with the dominance of the main upward trend in the short term. 

 

Therefore we expect more gains for the price, provided the aforementioned resistance of $118.63 is breached, targeting the next one at $129.00.

 

Today’s price forecast: Bullish

 

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