Despite Star Wars VII on its way to becoming one of the biggest and most profitable movies of all time, Disney (DIS) continues to decline from the Dec'16th high of $114.75 (a black-fail daily candle no less), with a Tuesday net decline of -2.0% @ $100.93 (intra low $99.89).
*DIS was particularly under pressure today after a downgrade from Macquarie
Suffice to add, it remains a twisted market, one where the better stocks will often get under-valued, relative to the momo nonsense - like NFLX, AMZN, or FB.
DIS is unquestionably a superb company. Yes, there are concerns about ESPN, amid a potentially weaker economy in 2016, but broadly, it remains one of my top Dow stocks.
From a pure price perspective, DIS is seriously struggling, and looks set for continued weakness into the late spring/early summer.
A simple fib' retrace from the 2009 low...
.. offers the 80/75 zone this summer. That would likely require the sp'1600s though, and that is a clear 20% lower.
As for those torpedoes...
I would imagine that by the end of 2016, DIS will be surging back upward, as 'Rogue One' is due for release in December.