DISNEY: poised to rise

DISNEY: poised to rise

2020-11-18 • Updated

Disney presented pretty strong quarterly results recently. It beat the market expectations in most indicators, including the revenue (which fell less than observers thought) and the per-share profit (which was not as deep in the negative zone as expected).

Things with Disney+ seem to go well: the number of subscribers to the streaming service surpassed 70 million in the previous quarter  – something that Disney was planning to achieve several years from now. In general, the company sees very strong demand projections in the next year the one that follows. Together, these observations lead to believe that this stock may be a good investment and trading option.

Technically, the price is now at the upper border of the uptrend it’s been in since the very beginning of recovery. However, be careful: it’s pretty volatile. Same like Tesla that was announced to enter the S&P yesterday and has already lost the gain it made after a surge on that news, Disney may well get back down to the ranges of $135 before passing $145. In the long-term, though, it indeed looks like a sфfe bullish option for traders.

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