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| Gator's Chart of the Day: DIS |
Disney was trading in a rising channel with the 20 day sma as support from Christmas 'til early April when it took a dive all the way down through the bottom Bollinger band and the 50 day sma before stabilizing. Over the last 3 weeks it has formed a new channel and worked its way back up through 50 and 20 day lines and kissed the upper Bollinger band. What now?
Volume was above average on Thursday and it was the 2nd best performer of the DJ-30 stocks. The upper Bollinger band is turning higher and DIS could keep climbing. This looks like a pre-earnings run to me. They report Tuesday after market so if you have a feel for how earnings will be ....
