Warner Bros Strong Bullish Rally
WBD has seen a strong rally in the past week, gaining over 30% and reaching the fourth spot in terms of market capitalization. The stock has benefited from the growing interest in the WBD ecosystem, which hosts several popular streaming services, such as HBO Max, Discovery+, and Peacock. The stock has also received positive attention from institutional investors, as CoinShares reported that WBD saw $262 million in capital inflows in the week ending November 5, 2023, the highest among all media stocks.
Warner Bros is likely to cross above the upper boundary of the channel, as the price is showing bullish momentum and is supported by the 9-day and 21-day moving averages. The stock could rally towards the next resistance levels at $46.84 and $50.00, where it may face some selling pressure. However, if the buyers fail to sustain the price above the moving averages, the stock could drop towards the lower boundary of the channel, where it may find some buying interest.
Warner Bros is likely to cross above the upper boundary of the channel, as the price is showing bullish momentum and is supported by the 9-day and 21-day moving averages. The stock could rally towards the next resistance levels at $46.84 and $50.00, where it may face some selling pressure. However, if the buyers fail to sustain the price above the moving averages, the stock could drop towards the lower boundary of the channel, where it may find some buying interest.
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