Walt Disney (NYSE:DIS) is setting up well for a fresh rally leg. Solid footing is in place near $168 (Feb/Mar lows). The stock is far from overbought (daily MACD=neutral). A close above $181.00 would violate a key overhead trend line that links the March/May highs and would also clear the June peak. Once past DIS will have room to run. On the downside, a close back below $171.00 would violate this week’s low indicating more basing is ahead.
Note: We have no position.