Disney May Face DownsideWalt Disney Company (The)BATS:DISTradeStationWalt Disney spent months in a narrow range, and now some traders may see downside risk. The first pattern on today’s chart is the $108.66 level. It was the low on May 12 after positive trade news drove the broader market higher. The media giant stayed above that price until last Thursday, when it crossed below it on heavy volume. Has support broken? Second, DIS spent months in a narrow range before the move. Escaping that pattern may increase the potential for a move. Third, prices are now below the 50- and 200-day simple moving averages. Next, some traders may view the May 7 price gap below $100 as a potential area to revisit. Finally, DIS hasn’t made a new 52-week high since June 30 or a new all-time high since March 2021. That may reflect relative weakness when contrasted with the broader market’s strength over the same period. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.