DIS - Is the bottom in?
It is hard to tell what is really going to happen to disney. The valuation on a fwd PE looks to be reasonably valued as well as a low price to sales ratio. The question really is, are they going to pay down their debt over the upcoming years and will they have the free cash flow to support paying down that debt.
From a purely technical standpoint, it is at the 61.8 retracement level from the 08 lows to the 2021 highs. With price going all the way back to 2014 and at two levels of big support, I think there is good risk/reward for the short term and potentially the long term if this is it's low. I think the big driver moving forward that has to become the dominant player in the space is it's streaming business.
A close below 87 and you can see volume drop off pretty heavily so this baby can fall fast. I will most likely look to short and pick up shares at $65 if that were to happen.
This is not financial advice! Good Luck!
From a purely technical standpoint, it is at the 61.8 retracement level from the 08 lows to the 2021 highs. With price going all the way back to 2014 and at two levels of big support, I think there is good risk/reward for the short term and potentially the long term if this is it's low. I think the big driver moving forward that has to become the dominant player in the space is it's streaming business.
A close below 87 and you can see volume drop off pretty heavily so this baby can fall fast. I will most likely look to short and pick up shares at $65 if that were to happen.
This is not financial advice! Good Luck!
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