Each week, I’ll give an overview of a stock and Licia Leslie will follow that up with a chart analysis the next day. Bill Griffo will chime in with macro analysis and Andrew Giovinazzi will then finish out the week with a volatility breakdown.
Have a stock YOU want us to review? Email my team here. – Mark
Hey Traders,
To begin with, as he said in his Disney (Ticker: DIS) overview, I can attest …
Mark Sebastian is the biggest Muppets fan on the planet.
And would agree with him, Disney cannot let them sit idle.
We all grew up with Sesame Street. It was the best kids’ show.
And it can span many childhood years – infant to twelve.
Ok, maybe in this day and age, 10-year-olds. Depends when you buy them their first phone. UGH!
Looking at the DIS chart, it has had a nice rally off the $84 low made on Dec. 28 …
A low that hadn’t been seen since the Covid low, which was $79.
DIS closed at $111.63 on Tuesday. That is a 32% rally in just over a month.
Nice move.
I have some resistance right here at this level:
I think if DIS can close above this resistance level, its next stop is the previous high made on Aug. 16 (and a doji, I might add, before the collapse) at $126.
Here is my pitchfork for DIS:
It has honored the support/resistance levels really well going back to March 9, 2021.
That’s a long time!
The second blue downtrend line is showing the resistance here, also.
Once it closes above here, the red line (next resistance level) comes in at $130.
As you may already know, I am overall bullish the market and I think we see this pan out in Disney, also.
In case you haven’t been following, here is the link to my free newsletter Profits in Pumps.
Thanks for Reading … See You Next Tuesday,
Licia Leslie