DIS is battling its most vicious villain, but it isn’t an evil witch, its the 50 day moving average. But Disney stories always have happy endings, right?
2023 has been a wild year for DIS. All of drama with Florida and then pitfalls with streaming services. It has all resulted in one of the biggest slides in the stocks history. So the big question is buy or sell? Let’s pull up the chart.
I’ve highlighted the points where DIS has battled the 50 Day and almost every time it has lost. That is a strong indicator that it will most likely lose again in this most recent attempt to break through. To go long, we would want to see a much stronger confirmation, like a move above the 200. We may see another pop, but it is unlikely to sustain.
This is a good situation to look at put options to pull in some income until Disney can find its happy ending.
Keep learning and trade wisely,
John Boyer
Editor
Market Wealth Daily
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