Double Top On DisneyLooks like a double top in Disney. Fundamentals of the company are very solid, and with Star Wars release, I am not sure if this will play out. If not a double top, could be a good buying opportunity at the resistance. I will be buying some puts here and will consider going long on the stock itself if it holds support line and bounces back.
Disney
DOW JONES OVERVIEW (END): DISNEY IN FIRM UPTRENDFinalizing our Dow Jones overview is Disney - and it is doing it on a positive note! DIS is one the best-looking stock from our Dow Jones overview - on par with Nike and UNH, also Viza.
On long term perspective it trades firmly above upper 1st standard deviation from 5 and 10 year means - which means that long term uptrends are well in progress.
On short term basis the long term picture is confirmed by the positive slope of 1-year mean. Price here trades within 1st standard deviations from both weekly and quarterly means, showing no short term trend, so nothing stands in the way of long term uptrend.
DIS relative strength during market correctionPrice of Disney's stocks holds nicely during this corrective phase showing relative strength. S&P was up 1% on Friday and gain 6 handles on premarket showing some follow through. This stock could be a good candidate when market buying will resume. Entry ans Stop on chart. It is difficul to say what could be potential target as stock hovering near historical highs, but minimum requirements are 1,5-2 more that risk (makes our target $91.60 - $92.00)