DIS - the selling continues

Despite unquestionably good earnings, Disney (DIS) continued to slide (intra low $86.25), settling -3.7% @ $88.86. Near term outlook still offers high threat of a short term bounce to the 95/97 zone, but the broader outlook is clear.. headed lower to at least 80/75.


DIS, daily

DIS, monthly

Summary

*closing daily candle is of the reversal type, but having broken a new multi-month low, it should not inspire the longer term bulls.
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Q4 earnings for DIS were no doubt largely helped by huge box office receipts from Star Wars 7, yet that still wasn't enough to satisfy the market.

Clearly, EPS/rev' were fine, but in the current market, its still not seen as good enough.

Regardless of any near term bounce, DIS looks headed lower by another 10/15% - which would sync up with the broader market downside to the sp'1600s.


Special note..

A monthly close <$75 would bode for continued implosion to the old breakout level of $40. That would be suggestive of sp'1200/1000. For now... its something to keep in mind, if very unlikely.