Disney is expected to report earnings of $0.98 on revenue of $22.49bn.

Taking a look at Disney as the company is due to report earnings tomorrow. Currently, its stock is trading at around $86.53 a share. Looking at the monthly chart, we can see that since the big fall in 2022, there’s been no significant movement. If anything, its price has gradually shifted towards the lower trendline of the triangle on the chart. This lower trendline is acting as the key support level for this stock, a break below it could lead to some big repercussions for the company in the near term. However, there is support further down at $79.08 and it would require some serious resilience to uphold as the selling volume would enlarge significantly. Ideally, this earnings report needs to come in as expected by analysts and it is the bare minimum investors are hoping for. We can see the lack of volatility over June, July and now August as the earnings approach. A better-than-expected outcome would allow room for consolidation with potentially an opportunity for a sizable push higher in the following months. Towards the upside, minor resistance sits at $94.52 followed by the key resistance along the descending trendline at $103.95. A breakout above the triangle would then allow us to look at resistance levels higher up the chart. Looking at the technical indicators, we can see the MACD volume is now stagnant and almost flat, with the MACD line itching to cross over but there just isn’t enough momentum at this moment in time. The RSI is also pretty flat as it reads 38, though it is negative. Disney is expected to report earnings of $0.98 on revenue of $22.49bn.