Wednesday, 16 November 2016

DIS - Lord Vader is on his way

Whilst the broader equity market saw a day of minor chop, there was notable significant strength in Disney (DIS), which settled higher by 1.5% @ $99.13, the highest close since mid July. Near term outlook offers the giant psy' level of $100, with the 102/106 zone before year end.


DIS, monthly


Suffice to add... DIS has climbed around 10% since the mid October low. Clearly, broader upside in the main market has helped.

Clearing above the gap zone of 102/106 won't be easy, but it'll be easier than the recent task of trying to clear the 200dma in the $96s.

Seen on the giant monthly cycle, DIS is set for a rather grand up wave into 2017. An eventual break above the Aug'2015 high of $120.43 looks probable.

Meanwhile... even Kylo Ren is looking forward to Rogue One.