The Walt Disney Company (DIS) has been moving in a downward trend since early June, following new Coronavirus case concerns in Florida. The stock recently saw a nice rise in price following an announcement that the NBA would be finishing its season with Disney as the host in Orlando. Uncertainty about these plans has dragged the stock down, with a new development that 16 NBA players had tested positive after beginning training in the facilities. Despite this, DIS has been forming a nice falling wedge pattern, respecting a trend support line that has been followed since mid-March, and may look to breakout upwards. However, DIS may also see a downward breakout should any new developments regarding the future of the parks or the partnership with the NBA surface.
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