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When we look at the Walt Disney Company (NYSE:DIS) chart, we see its fall into the $141 range on Feb. 4, the formation of support at $139, and the subsequent rise in the $143 range. It broke out from the $144 previous overhead resistance during yesterday's session and ran well into the $148 zone.
Walt Disney had scheduled a quarterly earnings announcement yesterday during aftermarket hours, where they reported higher than expected earnings beating the estimates. It was last found trading at $147.22 with the closest overhead resistance of $151 and the closest support level at $143.
Today we can expect a move towards $151 resistance and possibly further into the $157 due to the positive news. If, however, it doesn’t manage to hold on to the current level, then a move towards the $143 support can be expected.
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