Wednesday, 25 March 2015

DIS - break of trend in Disneyland

With increasing weakness in the broader equity market, Disney (DIS) was similarly under significant pressure, settling -2.0% @ $105.00. Next support is around 103/02.. where the 50dma will be lurking in the days ahead. There remains a very obvious price gap zone of 98/94.

DIS, daily

DIS, monthly


Disney has seen a clear break of the rising trend that stretches back to Feb 1st'.

There remain a huge truck load of reasons why the stock should continue to outperform the broader market, not least of which is Avengers'2 due for release in May.

*I remain very bullish DIS across the longer term... and will consider going long around 103/102 this Friday, not least if sp' looks floored in the 2040/20 zone.