Account

New to ADSS? Open an
account now to get started.

OR

Already have an account?

Add funds to your ADSS account

Account

New to ADSS? Open an
account now to get started.

Add funds to your ADSS account

Trends & Analysis
News

Oracle’s stock hits record high on upbeat earnings

News

EUR/USD Price Hinges on these Two Events

News

US dollar spikes amid smaller rate cut prospects

News

Can Apple save the stock market?

News

Gold loses shine on mixed US NFP data

News

Week Ahead Preview: 9th of September

Trends & Analysis
News

Oracle’s stock hits record high on upbeat earnings

News

EUR/USD Price Hinges on these Two Events

News

US dollar spikes amid smaller rate cut prospects

News

Can Apple save the stock market?

News

Gold loses shine on mixed US NFP data

News

Week Ahead Preview: 9th of September

Asset Watch

Will Walt Disney maintain its earnings momentum?

Tuesday, February 13, 2024

It was another celebration for Walt Disney on Feb. 8, as the stock soared on the back of strong first-quarter earnings. And as cost-cutting initiatives bolster the bottom line, the conglomerate’s restructuring efforts are paying off.
Walt Disney trimmed its streaming division losses from $1.05 billion in Q1 2023 to $216 million this year. The frugality led Bank of America analyst Jessica Reif Ehrlich to increase her price target from $110 to $130, saying she was “incredibly encouraged” that profit initiatives “are already having an impact.”
But while the stock has been a major underperformer over the last few years, has Walt Disney finally turned the corner?

When the company reported fourth-quarter earnings after-hours in November, the stock popped the following day. A red candle hit the day after, and support materialised near the 5-day moving average. Walt Disney then went on to rally by 11% off the pullback low.

With a similar pattern now present, a second act could be unfolding. After a sharp rally on Feb. 8, the stock closed lower on Feb. 9. Yet, the 5-day MA should keep rising in the days ahead, and if Walt Disney continues its correction or consolidates, the key level may act as support and spur further upside.

So, are two good quarters enough to turn sceptics into believers, or has Walt Disney run too far, too fast?


Site by Pink Green
© ADSS 2024


Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.

ADS Securities LLC (“ADSS”) is authorised and regulated by the Securities and Commodities Authority (“SCA”) in the United Arab Emirates as a trading broker for Over the Counter (“OTC”) Derivatives contracts and foreign exchange spot markets. ADSS is a limited liability company incorporated under United Arab Emirates law. The company is registered with the Department of Economic Development of Abu Dhabi (No. 1190047) and has its principal place of business at 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.

The information presented is not directed at residents of any particular country outside the United Arab Emirates and is not intended for distribution to, or use by, any person in any country where the distribution or use is contrary to local law or regulation.

ADSS is an execution only service provider and does not provide advice. ADSS may publish general market commentary from time to time. Where it does, the material published does not constitute advice, or a solicitation, or a recommendation to a transaction in any financial instrument. ADSS accepts no responsibility for any use of the content presented and any consequences of that use. No representation or warranty is given as to the completeness of this information. Anyone acting on the information provided does so at their own risk.