Tuesday, 13 October 2015

DIS - clearing resistance

Whilst the main market closed broadly weak, there was relative strength in Disney (DIS), which settled higher by 0.2% @ $106.56 (intra high 107.39). With a break and hold above the 50/200dmas, the near term outlook is outright bullish to the 113/115 zone.

DIS, daily

DIS, monthly


Suffice to say, DIS looks headed higher.. at least to the lower end of the previous earnings gap zone around 113/115.

Clearly, the hyper-bulls are going to need to see new highs in the $120s before things are 100% clarified for spring 2016.

*next earnings are not until Thursday Nov'5th.