As $DIS prepares to unveil Disney+, chart suggests break of a four-year rut TradingNation
Disney has been quiet on details about its streaming service Disney+ heading into its investor day Thursday afternoon.
"My thinking is it gets up to $120 which is a key level and above that it will allow for this longer-term rally to continue," said Newton."For most that are looking short term, yes it does look overbought but it's really important to have a longer-term perspective and look at the stock since it's traded from 2009."
Erin Gibbs, portfolio manager at S&P Global, is also long-term bullish on the stock even though she expects a slight earnings contraction this year.
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