The Walt Disney Stock Rises Despite Negative News (NYSE: DIS)

Walt Disney Stock DIS Stock Chart

Walt Disney was in the news this week over a class action lawsuit for equal pay.   Twelve former female employees are claiming they were discriminated and paid less money than their male counter parts.  Disney is fighting the “certification” of the class action lawsuit.  It appears investors are largely ignoring the lawsuit as “noise.”  The Walt Disney Co. shares are trading with a premium of 2.5% to a 6-month low, decreasing since the beginning of the current week. The drop in the issuer’s quotes from the July 52-week high exceeded 10%. Today, after the market closes, a report for the past quarter will be released. Wall Street expects a 36% YoY decrease in earnings per share to $0.95, despite a 33% YoY revenue increase to $19.03 billion.

Over the past week, The Walt Disney shares rose by 1.29%. Over the same period, the S&P 500 index grew by 1.00%.

Support and resistance

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The company’s shares continue to trade flat. There is no unidirectional trend observed. The key support and resistance levels are 128.00 and 134.00, respectively. There is a potential for decline. Indicators do not give accurate signals: the price has fixed between MA (50) and MA (200); the MACD histogram is near the zero line. It is better to open the positions from the key levels.

A comparative analysis of the multiples of the company and competing companies in the industry indicates the neutrality of #DIS.

Resistance levels: 134.00, 137.00, 140.00.

mifinance

Support levels: 128.00, 122.00.

Trading tips

Short positions may be opened after the price consolidates below the level of 128.00. The closing of the profitable positions is possible at the levels of 124.00, 120.00 and 117.00. Stop loss – 132.00.

Long positions may be opened after the price consolidates above the level of 134.00 with the targets at 140.00–144.00. Stop loss – 130.00.

Implementation period: 3 days.

Pivots
Pivot Classic Fibonacci Camarilla Woodie DM
S3 118.10 124.24 128.23 121.78 —
S2 124.24 126.59 128.79 124.66 —
S1 127.08 128.03 129.36 127.92 125.66
P 130.38 130.38 130.38 130.80 129.67
R1 133.22 132.73 130.48 134.06 131.80
R2 136.52 134.17 131.05 136.94 —
R3 142.66 136.52 131.61 140.20 —

Sep-24-19 Initiated Wells Fargo Outperform $173
Aug-20-19 Reiterated Imperial Capital In-line $147 → $140
Aug-08-19 Upgrade Credit Suisse Neutral → Outperform
Jun-17-19 Downgrade Imperial Capital Outperform → In-line $147
Jun-13-19 Reiterated Morgan Stanley Overweight $135 → $160
Jun-06-19 Reiterated Citigroup Buy $132 → $160
May-07-19 Reiterated Imperial Capital Outperform $139 → $147
May-06-19 Reiterated UBS Buy $128 → $165
May-01-19 Reiterated Barclays Overweight $130 → $150
Apr-23-19 Resumed Guggenheim Buy $157
Apr-23-19 Reiterated BofA/Merrill Buy $144 → $168
Apr-15-19 Upgrade BTIG Research Sell → Neutral
Apr-15-19 Reiterated Imperial Capital Outperform $129 → $139
Apr-12-19 Resumed JP Morgan Overweight $137
Apr-04-19 Resumed Goldman Buy $142
Apr-02-19 Resumed Rosenblatt Buy $150
Nov-27-18 Upgrade Imperial Capital In-line → Outperform $113 → $129
Oct-19-18 Upgrade Barclays Equal Weight → Overweight
Aug-09-18 Reiterated Imperial Capital In-line $108 → $112
Aug-08-18 Reiterated Imperial Capital In-line $108 → $112

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