Tuesday 20 December 2016

DIS - the force remains strong in this one

Whilst the broader market closed moderately higher, Disney (DIS) was similarly on the rise (intra high $106.20), but settling +0.1% @ $105.43. Near term outlook threatens a touch of cooling to the 104s, with core support at the psy' level of $100.

DIS, daily

DIS, monthly


*short term, we've a second consecutive black-fail daily candle. Those are not to be dismissed lightly, and it does threaten brief cooling, but certainly nothing <$100.

Disney has naturally received a lot of media attention as a result of the latest Star Wars movie. Rogue One has surpassed most expectations, and is well on the way to being another $1bn dollar movie.

Price structure is mid term bullish. Next soft target are the $110s. Earnings are in early Feb', at which point we could see a spike to the $120s... challenging a new historic high.

Underlying MACD (green bar histogram) is set to turn net positive in Jan', or certainly no later than Feb'. By definition, an acceleration higher is very viable... not least as the broader market remains super strong.

yours... Bullish Star Destroyers.