DISNEY STRONGLY BULLISH AS RESULTS BEAT ESTIMATES
Walt Disney’s stock is currently trading at 135.83-higher by 0.59% as compared to its previous close. In the Premarket trading session on Thursday, the stock was trading higher by 0.38%. The stock has continued gaining after the opening bell.
The company reported its second-quarter earnings after the market close on Wednesday. Disney generated an adjusted EPS of $1.61 for the second quarter. The EPS was above the market expectation of $1.58. The company brought in $14.92 billion in revenue for the second quarter. The revenue was above the consensus estimates of $14.36 billion.
Walt Disney posted better-than-expected earnings as more visitors flocked to its theme parks. The net income hit $1.5 billion in the theme park unit. The media company also closed its $71 billion acquisition of Fox’s entertainment assets during the second quarter.
Stocks of Disney rose more than 22% since the beginning of this year.
On the technical front, the RSI is currently at 66.04% 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 135.70 TAKE PROFIT AT 136.70 STOP LOSS AT 135.20