Traders were disappointed by weak quarterly numbers from Warner Bros. Discovery (WBD) Thursday morning but prices have recovered as the session plays out. Let's check out the charts and indicators of this media and entertainment company.
In this daily bar chart of WBD, below, I can see that prices have moved sideways in a tighter and tighter trading range. This is like winding up a watch and we are just waiting for the energy to be released with prices springing higher. Trading volume shows some pickup in the past three months.
The On-Balance-Volume (OBV) line has been weak since early February. The Moving Average Convergence Divergence (MACD) oscillator is just slightly above the zero line.