Monday, 18 April 2016

DIS - its all fine in Disneyland again

With the broader market continuing to break further aspects of upside resistance, Disney (DIS) saw notable strength, settling +2.9% @ $101.49, the highest level since Jan'13th. Near term outlook offers further upside to the 200dma in the $104/105s. Any daily closes >106 would be extremely bullish for DIS and the main market.

DIS' daily

DIS' monthly


Suffice to note, it was a pretty strong day for DIS, and is seemingly on course (at least) to test the 200dma another $3/4 higher.

Things really get bullish in the $106s, which would be highly suggestive of new historic highs later this year.

The monthly 10MA in the $104s is important. An April.. or May close, in the $105s would be enough to negate what little hope the bears still had for further downside to the $80/75 zone.