Wednesday 28 December 2016

DIS - a little cooling

With the broader market on the slide, Disney (DIS) was similarly in cooling mode, settling -0.8% @ $104.29. Near term outlook threatens a brief foray to the $101/100 zone. Broadly though, first upside target for earnings (early Feb') is $115. New historic highs (>119.51) look highly probable by late spring 2017.

DIS, daily

DIS, monthly


Short term.. there is a clear break of rising trend that stretches back to early November.

There is a micro gap zone in the $101s... with the $100 threshold offering natural support. Considering the strength in the broader market, any price action <$100 looks extremely difficult.

Seen on the giant monthly cycle, the MACD (green bar histogram) is set for a bullish cross in late Jan/early Feb'2017, which is suggestive of the $115 where the upper bollinger is.

Without question, Disney is in possession of the world's two biggest movie franchises - Star Wars and Marvel. Its ironic that the mainstream have only just started to realise that Disney will be churning out a SW movie at least once a year in perpetuity. Marvel is already averaging two movies a year... with related TV shows on Netflix.

yours... bullish Star Destroyers