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Asset Watch
Tuesday, November 14, 2023
The grey rectangles highlight how Walt Disney has recorded two consecutive green closes above its 10-week moving average three times since mid-2022. The first two resulted in material upside over the following weeks, while the third generated a more than 4% rally.
As a result, Walt Disney is sporting a fourth iteration on the right side of the chart, so the current momentum should have more room to run. Also noteworthy, the stock roughly retested the 10-week MA all three times before moving higher, and last week’s low of $83.59 was right near the 10-week MA of $83.21.
Is this a new uptrend, or will the bears have the last laugh?
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