Tuesday, 9 June 2015

DIS - testing key support

Whilst the broader market saw another day of moderate weak chop, there was somewhat notable weakness for Disney (DIS), which settled -0.7% @ $108.53 (intra low 107.65). The primary upward trend remains intact, but if the broader market gets upset in the coming few months, there is viable downside to the 100/95 price gap zone.

DIS, daily

DIS, monthly


Suffice to say... so far at least, DIS is holding the primary upward trend that stretches back to last October.

I am increasingly resigned to a broader market correction of 8-12% this summer/early autumn. If correct, DIS will almost certainly cool to the 100/95 zone.

Broadly.. I remain hyper-bullish DIS, and it remains one of my top 3 Dow stocks (the other two are INTC and GE), across the next two years.