Shares are now down 2% YTD after rising as high as 37% in March

Disney shares are now down 2% year-to-date after rising as much as 37% throughout January to March, declines led by disappointing earnings and now the global market sell-off. Currently, its share price sits around $88.42 a share in the pre-market trade after gapping lower in yesterday’s open. These earnings may be crucial for the entertainment giant for Q3 and Q4 as a bad miss with poor guidance may really spark an intense sell-off for investors. Potentially sending the price towards the bottom that was formed back in October of 2023 ($78.73). Towards the upside, near-term resistance reads $92.52, a move towards here would see the closure of the gap down. A break above it would then face resistance at $94.52. The technical indicators are starting to look a bit oversold, which could possibly limit any strong selling over the coming weeks. The RSI floats just above the oversold territory as it reads 32, the MACD has still a little room to fall lower but its nearing the oversold territory.