Shares of Disney (DIS) are lower in early trading Thursday as traders, investors, and analysts react to their latest quarterly numbers and their push into streaming. The Mouseketeers are getting depressed.
Let's check out the charts.
In the daily bar chart of DIS, below, we can see that the shares have weakened from the past summer and fall when DIS was trading in the $170-$190 area. DIS is in a downtrend below the bearish 50-day moving average line and the negatively sloped 200-day moving average line.
Trading volume has increased from November as more Disney followers are voting with their feet. The On-Balance-Volume (OBV) line has been in a downtrend as sellers of DIS have been more aggressive than buyers.
The Moving Average Convergence Divergence (MACD) oscillator is bearish and pointed lower.