Disney looking a little oversold now

Disney’s share price is now down around 20% from its peak in April, seems like light selling continues after its earnings call. Currently trading at around $100.77 a share in the pre-market trade. However, it could be argued that the selling is now slightly overdone, which makes the stock attractive at current levels. This is simply based on Wall Street analyst's 12-month targets for the company. DIS has 25 ratings of which 20 are a ‘strong buy’ or ‘buy’ and 5 ‘hold’ ratings. These ratings have created an average 12-month price target for DIS of $129 a share. This offers a potential 28% return if this price target is reached over the next 12 months. The support here for DIS is the $100 mark, a break below it could lead to a further dip towards its 200-day moving average. The 200MA would act as a key test for the stock, the 200MA currently reads $96.94. It would be unreliable to point out any resistance points right now due to the bearish bias for the near term, signs of consolidation would provide greater confidence. But $103-$104 could be the initial resistance point if must. The technical indicators are now looking somewhat oversold. The MACD is at the bottom end of the chart and the RSI has now entered the oversold territory, fluctuating between 29/30.