DIS Pre-Earnings Run
Disney is in the retail news a lot these days but the chart has a pre-earnings run in anticipation that Year over Year financials will look a lot better than it did most of 2022. This stock has been as high as $200 a share so it has plenty of room to continue upward.
HOWEVER, it is over-speculated right now so profit-taking on the earnings release, good or bad, and probably a gap, are highly likely.
This is WHY earnings strategies for swing traders require that you prepare 2-4 weeks in advance so that you're already in the stock ahead of the earnings report. There are smaller funds and retail groups in the mix at this point.
HOWEVER, it is over-speculated right now so profit-taking on the earnings release, good or bad, and probably a gap, are highly likely.
This is WHY earnings strategies for swing traders require that you prepare 2-4 weeks in advance so that you're already in the stock ahead of the earnings report. There are smaller funds and retail groups in the mix at this point.
Martha Stokes, CMT
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