Walt Disney Company DIS will release its fourth quarter financial results after the market close on Tuesday. The stock traded slightly lower on the way to the event.

When the entertainment giant printed its Third Quarter Results On Aug. 10, the stock rose 8.7% before giving back about half of its gains. The stock then rose 7.47% over the following three trading days before peaking at $126.48 on Aug. 16 and entering a subsequent downtrend.

For the third quarter, Disney reported adjusted earnings per share of $1.09 on revenue of $21.5 billion. The company surpassed its EPS estimate of $1 and reported $20.5 billion in revenue.

For the fourth quarter, analysts estimate Disney will post earnings per share of 56 cents on revenue of $21.25 billion. Retailers and investors will be watching closely to see if Disney has been able to continue growing Disney+ subscribers Netflix, Inc NFLX reporting new subscriber numbers that came in ahead of analyst estimates.

On October 26, Keybanc analyst Brandon Nispel maintained his overweight position in Disney, lowering its price target to $143 from $154. The new price target suggests a 43% upside potential for Disney.

From a technical analysis perspective, Disney stock is likely to trade lower in the coming days as the stock has settled into a bear flag pattern on the daily chart. It should be noted that holding stocks or options over a profit squeeze is akin to gambling, as stocks can be bullish on a profit miss and bearish on a profit decline.

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The Disney Chart: Disney’s bear flag pattern was formed between November 1 and Tuesday, with the down-sloping pole formed in the first three days of the range and the flag printed in subsequent trading days. If Disney breaks off the lower flag ascending trendline on above-average volume, the measured movement is around 10%, suggesting that Disney could fall towards…