Disney (DIS)

Trader_VN explores Disney from different perspectives

Disney (DIS)

Disney looks interesting both technically and fundamentally.

Technically

Graph is forming a nice symmetrical triangle which currently beginning to coil quite tightly. A breakout is pretty imminent. Also, we see the 40DMA and 200DMA converging pretty close to one another which tell us there is some decent support at these levels. (Around $175)
Based on the above,  breakout bias is towards the upside in my opinion, and this view might be cemented by the results which have just been posted. Initial TP of $200

Fundamentally

As mentioned, Disney posted results and beat analysts' estimates after a strong rebound in visitors after Covid-19 lockdown. Concerns of the Delta variant might damper spirits going forward however.

The company posted fiscal third-quarter sales of $17 billion, up 45% from the year-ago quarter, when the pandemic locked down much of the world, but results were still below the $20.2 billion in the 2019 third quarter. Analysts polled by FactSet expected sales of $16.76 billion.