All eyes on Disney Earnings
Gary Christie August 4, 2020 6:09 AM
A look at key levels ahead of the report
Walt Disney (DIS) is anticipated to report a third-quarter loss per share of $0.60 vs a gain of $1.61 a year ago on sales of appx. $12.4B compared to $20.25B last year.
Volatility is to be expected with front-month options pricing in a possible 5% move in either direction. The last time Disney reported the stock closed relatively flat (-0.2%).
Looking at key levels on a daily chart, Disney remains supported by a short-term rising trend line. Prices are trying to break above a short term consolidation. As long as the stock can hold above the June low at $108, look for a continuation higher above $122. A break below $108 would call for a test of April support near $99.
Source: GAIN Capital, TradingView
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