Stock of the day: Walt Disney

Yesterday we updated you on German BASF and today we’ll move our attention to Walt Disney, which we previously mentioned here, on July 1st. Back then we were optimistic about this instrument’s future, and we were giving hints about a possible, further upswing:

“That is positive and should be followed by a further upswing. If you are not entirely convinced, we do not blame you and it may be a good option to wait for the breakout of the horizontal resistance of 178.5 USD (green). The price closing the day above that level would be a very strong buy signal that should not be ignored.”

The reason why we’re discussing Walt Disney again is that the price did indeed go higher and yesterday it broke the crucial horizontal resistance we mentioned above. Back on July 1st we said that it would give us a very strong buy signal and we haven’t changed our mind on that!

Actually, we’re even more bullish as the breakout looks really great as does the whole daily candle. It’s hard to imagine that after a movement like that we’d we wouldn’t get a new mid-term uptrend. Our sentiment is positive and will stay that way, as long as we stay above the green horizontal support.