Walt Disney - eyes here on DIS as the price sits along the 200MA

Disney’s share price is now sitting along its 200-day moving average after selling off around 3% last Friday. Currently, its shares are trading at around $99.44 a share in pre-market. This is a key area point for Disney and its investors as a break below the 200MA could trigger more selling in the short-mid term. The 200MA is currently reading $99.11, a break and close below this support level may then shift the focus towards the area of $88-$92, which are the lows of January. A move down into this area would see Disney erase all of its gains from the first quarter of the year. On the other hand, a strong bounce off this support may spark a new rally with July being a seasonally positive month for Disney. The resistance for the near term reads $103.65. A break above it would then allow the bulls to target $104.52 followed by $106.99. A move from current levels to $107 would imply an 8% rise. Regarding the technical indicators, their positioning is not creating great confidence for the stock and its traders. The MACD seems like it's about to turn negative on the daily chart and the RSI is now within negative territory, it reads 36. On a separate note, Disney’s “Inside Out 2” has hit $1bn at the global box office in less than three weeks, the fastest of any animated film in history. Perhaps this could offer some stability for Disney in the near term.