Monday, 4 December 2017

DIS - a clear breakout

Whilst the main market saw a day of broad upside, there was notable strength in Disney (DIS), which settled +4.7% at $110.22.The stock has achieved a clear breakout, with next soft target of the 115/118 zone. A move >120 looks probable by early spring 2018. Talk of the 140/50s by end 2018 can begin.

DIS daily

DIS monthly


Little to add from recent posts.

Technically, breakouts don't come any clearer. Today can be counted as Day'1 UP, and the Disney bulls can expect an extended bullish phase, as in months... rather than mere weeks.

Note the MACD (green bar histogram) cycle on the bigger monthly chart. At the current rate, we'll see a bullish cross in Jan' or Feb. Next earnings will be due early Feb'. If Mr Market is pleased, its possible we'll push >120 even before early spring.

Meanwhile, the buildup to Avengers: Infinity War (due April/May 2018) has already begun. The fans are naturally already hyper...

... bullish.