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Walt Disney (NYSE: DIS) shares have been on a downward trend, witnessing a nearly 18% slide in the past six months. This decline can be attributed to various factors, including a contentious decision to partner with a male influencer dressed as Minnie Mouse on TikTok, which didn’t sit well with many parents. Additionally, Disney’s announcement about replacing the iconic Seven Dwarfs with diverse characters in an upcoming ‘Snow White’ adaptation has also been met with skepticism.

Moreover, Disney’s Q3 earnings report released on August 9 painted a concerning picture. The company’s streaming platforms, namely Disney+ and Hulu, reported a drop of 7.4% in their subscriber count compared to the previous quarter. However, there was a silver lining, as Disney’s parks and experiences division recorded a 13% revenue boost. Unfortunately, this uptick wasn’t enough to stave off the drop in stock price.

Despite the current situation, analysts remain optimistic. According to TipRanks, the consensus among 20 analysts over the past three months suggests a ‘moderate buy’ recommendation. They’re targeting a price of $110.71, a notable increase from the current $82.47.

In terms of technical analysis for DIS stock, the daily chart is depicting a descending triangle — typically a bearish indication. Here, the share price consistently encounters a resistance level without achieving higher peaks, until it breaks below a supporting trendline. Disney’s shares recently breached a significant support at the $85 mark on August 24. If the price doesn’t rebound above this level soon, the stock could potentially see a dip to around $50 in the upcoming months.

Year-to-date, DIS has fallen by 7.3%, which is notably lagging behind the S&P 500’s gain of 16% over the same timeframe.