dis stock chart

DIS Stock Climbs Up 9%. Is Disney Stock A Buy?

Walt Disney Co (NYSE: DIS) of one of the leaders of the global entertainment industry, Walt Disney, continues to stay within a stable downtrend, trading at 85.50.

The DIS stock became one of the most declining during the period of panic sales in the last two weeks. The price has decreased by more than 28%. This morning DIS is climbing up.

Goldman Sachs analysts explained the negative dynamics by the fact that according to the company’s reports, last year, the company received more than 70% of revenue from theme parks and cinemas. If quarantined, its income would have decreased by more than half.

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Yesterday, President Donald Trump announced a general quarantine, which means that cinemas and theme parks will be closed. Consequently, the worst times for the company are just beginning, and the massive sale of shares is yet to come.

Should Investors Buy DIS stock?

Many investors are looking down stocks and the market as a whole as a significant opportunity. History has proven in that past that they are not wrong. Should investors buy DIS stock right now? The answer to buy DIS is more of a timing issue as to whether to buy it because Disney is an excellent stock to buy. Right now, it is getting crushed by the coronavirus. Investors should look for the virus to the situation to stabilize and for DIS stock to reach support before entering.

DIS Support and Resistance

The DIS continues the downward trend within the 5-wave trend. At the moment, correctional wave four is forming, and after its completion, the global decline may continue. The histogram of the AO oscillator lies deep in the sales zone, creating correction bars. The range of EMA fluctuations on the Alligator indicator is expanding, which indicates the predominance of a global downtrend.

Resistance levels: 98.00, 115.00.

Support levels: 77.00, 60.00.

Stock Market Today

S&P futures are higher, up 113 to 114 points, as…

  • Treasury Secretary Steven Mnuchin and Senate minority leader Chuck Schumer continued to work on negotiating a coronavirus stimulus package, saying they’re close to a deal.
  • President Donald Trump criticized the emerging accord overnight, saying he will never approve some of the new demands.
  • Investors continued to digest the economic stimulus measures put forth by the Federal Reserve yesterday.

European markets gained as…

  • Italy’s coronavirus-related fatalities and new cases fell for a second straight day on Monday, according to officials, implying lockdown measures may be starting to slow the spread.
  • Germany’s government is said to be considering a stimulus package to support the economy.
  • Berlin is said to be willing to support an emergency loan from the European Stability Mechanism to help Italy through the current economic shutdown.
  • The Bank of England said it stands ready to do more to help the country through the negative impact of the coronavirus outbreak.

Asian markets jumped as…

  • China’s Hubei province, the origin of the coronavirus outbreak, said it would allow transportation to resume in the City of Wuhan on April 8.
  • South Korea’s government said it would double the size of its emergency funds to $80 billion to shield businesses and financial markets.
  • Australia’s central bank added $4.06 billion to the financial system and said it would purchase another $2.4 billion worth of bonds to support the economy.
  • Markit Japan’s preliminary composite purchasing manager’s index data for March fell sharply versus February, highlighting the need for government economic stimulus.

And ahead of…

  • Final Building Permits for February  (8 a.m.)
  • Markit US Preliminary Manufacturing, Composite, Services PMI for March (9:45 a.m.)
  • New Home Sales for February (10 a.m.)
  • Richmond Fed Index for March (10 a.m.)
  • American Petroleum Institute Crude Oil Inventory Data (4:30 p.m.)

Pre-Market Levels:

S&P +5.09%

Asia – Japan’s Nikkei +7.13%, Japan’s TOPIX +3.18 %, China’s Shanghai Composite +2.34%, Hong Kong Hang Seng Index +4.46%, South Korea’s KOSPI +8.60%, Taiwan’s TSE +4.45%

Europe – EuroStoxx 50 +5.16%, UK FTSE +4.12%, German DAX +6.46%, French CAC +5.45 %, Italian MIB +6.48%, Spanish IBEX +5.05%

VIX -15.90%

Currencies – Dollar -1.17%, Japanese Yen +0.68%, Euro +1.43%, British Pound +2.13%, Swiss Franc +1.21 %, Chinese Yuan +0.48%

Bitcoin +6.75%

WTI Crude +5.95%

Brent Crude +4.30%

Nat Gas +0.69%

Gold +7.48 %

Platinum +0.95%

Copper +3.55%

Silver +7.57%

US Treasury 10 yr yield +3.3bps at 0.820%

US Treasury 2 yr yield +0.1bps at 0.313%

German 10 yr yield +2.0bps at -0.365%

French 10 yr yield +2.6bps at 0.123%

Italian 10 yr yield -1.6bps at 1.557%

Japanese 10 yr yield -3.1bps at 0.030%