DISNEY STOCK RISES ABOVE MA5 ON RATING UPGRADES
Walt Disney’s stock is currently trading at 116.30-higher by 1.17% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 0.73%. The stock has continued gaining after the opening bell.
Investment bank Cowen upgraded Disney’s stock ahead of the company’s investor day on Thursday. The bank upgraded the stock’s rating to outperform from market perform. Cowen also raised its 12-month price target to $131 from $102. The bank upgraded it due to its new streaming service and next Star Wars.
At investor day, the company is expected to give details on its new streaming service Disney+. Disney stocks gained around 5% so far in 2019.
On the technical front, the RSI is currently at 66.58% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
TRADE SUGGESTION- LIMIT BUY AT 116.20 TAKE PROFIT AT 116.70 STOP LOSS AT 115.95